(Click on image to enlarge)

When Doc Copper speaks, investors should listen.

And it may be that time again. The price of copper broke above the $4 mark early this year… but it’s struggled to maintain its momentum and is in a multi-month pullback.

Today’s chart is a “weekly” chart of Copper. And as you can see, Doc Copper double topped just above $4 back in 2008 (leading to a 40% decline). And stocks followed the lead lower.

Copper then rose to new highs in 2011 but struggled to hold above the $4 mark. Is this happening again today?

Early this year copper tested those 2011 highs at (1) only to see sellers emerge. As well, Copper may be forming a bearish descending triangle while testing an important support at (2).

If support breaks at (2), Copper may fall hard. Will Doc Copper do all the talking for the market canary?