US copper is up slightly today to $296 after falling as low as $290 in European trading.

Analysts at Citigroup are out with a note saying they expect prices to fall another 8% (to about $272) on a weekly close below $298 after yesterday’s break of a double bottom at that level.

copper intraday

copper intraday

The stability in copper is one of the factors underpinning the rebounds in stocks and commodity FX in US trading today.