 Hello, welcome to this week's CMC Markets Commodity Snapshot with myself, Jasper Lawler. We're going to be looking at copper prices. They've just broken to a new six year low. We've got a potential breakout pattern on the chart here, which potentially drops us down to below $2 per pound, and we also talk about the overall outlook here in terms of Chinese demand for copper. We're going to dig a bit more into this weekly chart for copper in just a moment, as I mentioned, Chinese demand for copper is definitely on the wane. We've seen industrial production this week slip again below expectations, now growing just 5.6% year over year, still ahead of a lot of industrial nations, but doesn't quite justify the large supply being put out there by the mining companies, the kind of companies that are listed on the FTSE 100, the BHP Billitons, the Rio Tintos of the world. And so there is that supply demand mismalance, and we're seeing that reflected in prices. So quite simply, this is just a downward sloping channel that we're seeing on this weekly chart, a weekly candlestick chart. You can see that we've bounced off the bottom of this channel once, but the bounce really didn't go too far, and now we've dropped back down through that support and that was holding us above the six year lows. We're now at fresh six year lows. And so you can see at the bottom, I've drawn in two dashed lines here, and that's the triangle breakout that we're looking at here. The breakout occurred at the beginning of this week, around two to five, as we have it in our charts, at $2.25 per pound. And if we take the height of this small triangle pattern, that would put us down 197, so just short of that $2 per pound mark. So it could be quite a sharp drop on the offering here. If we do drop down to a shorter term chart, I'll show you this four hour chart, if you're trying to play this breakout on the shorter term charts, you can see that we've just dipped through this $2.20 support level here, and this short term trend that we can see taking place on the chart, we'll probably get a raised should we get above this resistance, which is fairly clear cut with a number of peaks, cutting through the 222.70 mark. So that's it for this week's CMC Markets Commodity Snapshot. We're looking at copper, of course. A fairly straightforward story here, it's just that supply is outstripping demand, and we're seeing that reflected in the prices, pushing down to six year lows, and we're just going to watch the chart here to see if the short term pattern that we've seen on the four hour chart can maintain the momentum to the downside that's potentially been set off here by that break of that triangle pattern.