Is it the end of CME Copper's rally? After four days of gains, it is down by 0.36% today

CME Copper is down to $3.71 per pound, after ending Friday at $3.73. Overall, a 0.36% loss or 1.35 cents today.

A Bearish Harami chart pattern, which is a means of predicting reversals in bull markets. When a Bearish Harami is detected at the top of a prevailing uptrend, it is typically considered a bearish signal and a prelude to a potential trend reversal. Copper's upper Bollinger Band® is at $3.78 which indicates a further downward move may follow.

Following today's unexpected losses, extensive multifactorial technical analysis forecasts the Copper future to buck against its prevailing uptrend and begin to dip lower in the short term. With all probabilities considered, the the Copper future is expected to attract significant bearish sentiment in the coming days.

In the meantime, negative performances are also seen in other Metals as Palladium retreats 0.92% to trade around $1,374.

Though the Copper future has been dropping, other Metals have been performing better: having closed the previous session at $1,952.4, Gold is up 0.58% today to currently trade at around $1,963.7.

Furthermore, United States Services PMI figure is projected at 55.1. It previously stood at 53.6; data will be released today at 13:45 UTC. United States ISM Non-Manufacturing PMI (May) will be released today at 14:00 UTC. United States EIA Short-Term Energy Outlook is scheduled for tomorrow at 16:00 UTC.

Copper is now trading 8.25% below its 3-month high of $4.46.