The price of $Copper has been falling sharply in June and July so far. After failing to push above the 2017 high at $3.32, price retreated and closed last week at $2.82. Copper Weekly Chart(click to enlarge)Previous Bearish Breakout- The weekly chart shows the sharp plunge over the past 4 weeks that broke below a key support. This essentially completed a double top.- Now, this bearish correction is going against a bullish trend since late 2016, which eventually broke above a falling trendline as well as the 200-week simple moving average (SMA). - The double top reflects the correction mode that Copper is currently in.Support:- The correction has more downside towards $2.60, but I think there will be support there.- The 200-week SMA is right around $2.60. - This is also around the middle of a previous consolidation range between roughly $2.45 and $2.80. - At that time, we should also see the weekly RSI dip to 30. - Because the prevailing trend is bullish, we should anticipate support at this critical pivot area, especially when the weekly RSI reflects oversold condition.