Copper price have been bearish entering 2016 but found support and consolidated throughout the year so far. Copper Daily Chart 10/10(click to enlarge)Consolidation:- The daily chart shows that there was indeed support and a price bottom at the beginning of the year. - After a break above 2.15, there was a bullish reversal scenario. - However, price stalled around 2.30 and started to chop sideways, with a slight bearish tilt. Anchoring higher:- We can see this slightly bearish channel form over the past 7 months. - Forget the "channel" for a moment, and focus on the fact that there has been lower highs and lower lows since March.- Now, the latest low completed in September was higher than the low in June. - This is a strong sign that the market might be done with the prevailing consolidation mode, and is ready for a bullish swing.Bullish slingshot:- After anchoring higher instead of dipping to the channel support, price action also showed support at 2.15.- 2.15 is a key support/resistance pivot and respecting it shows that the market is indeed turning bullish.- Also the market showed respect to the cluster of 200-, 100-, and 50-day simple moving averages (SMAs) as support. This is call a bullish slingshot and is another sign that copper is turning bullish.Critical resistance:- We have the signals that the market is turning bullish, but copper starts this week at a key resistance area. - The daily chart shows that price is tagging the channel resistance area. - We can expect some choppiness here. - Based on the aforementioned bullish signals, my opinion is that the market is ready to break the channel and revisit the highs on the year just above 2.30.