Copper U.S. High Grade Futures (199.90)

In my October 14th Blog Comment I said I was looking for a pause in the 190 area in an otherwise strong longer term uptrend. This anticipated holding pattern is now visible on the daily chart, but it might have been more meaningful to say a pause would be appropriate below important round numbered resistance at 200.

My unique price momentum models appear to be treating the recent shudder in the U.S. housing market as a non-event as it relates to copper. Is Chinese copper demand so overwhelming that U.S. copper consumption no longer matters?