Eoin Treacy's view Copper has experienced too abrupt declines over the last few months. The first found support in the region of the 200-day MA and rallied impressively to post a new recovery high. The second is testing the MA and needs to hold above the recent low near 390¢ to bolster the medium-term bullish outlook.

Aluminium encountered resistance in the region of $2500 in April and has now pulled back to test the $2000 level and the February low. While oversold in the short-term, a sustained move back above $2100 is needed to indicate demand is beginning to regain the upper hand.

Lead formed a first step below its Type-2 top from February and broke below $2000 in mid May. A sustained move back above $2125 is required question scope for further downside.

Zinc broke below the February low last week and needs to sustain a move back above $2141 to suggest demand has regained the upper hand.

Nickel continues to pause above $20,000 but a sustained move above $22,000 is required to confirm support in this area.

Tin remains a relative performer in the industrial metal sector. It has held most of the 10-week advance from the February low and a sustained move below $17,000 would be required to question scope for some further higher to lateral ranging.