Copper is Entering 5:5:5 off the December 22 2008 Year Low

Copper has a seasonal tendency to top in May, but it also has a tendency to top within a few months of gold. Thus it is conceivable that copper will top ahead of May this year. Last yr copper double topped in Jan and April. Another indication that Copper is close to topping is that the relative price strength of the copper producer Freeport-McMoRan Copper & Gold FCX has fallen off a cliff in 2011 and producers tend to lead the underlying commodity. I will be watching this closely from here on out.