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This has prompted three days of heavy selling in copper.
Strategists now fear that a breach of the 3,650 mark could bring on a fresh wave of heavy selling.
After a period of heavy selling, the price of copper rose by 11% on May 23rd, only to fall by 7% the next day.The dollar was erratic, too.
Analysts said that while a recent spate of heavy selling has made stocks attractive to bargain hunters, more steep declines were possible.
6.23am: The pound just hit a 12-month low against the dollar at $1.4670, as traders quickly digest those forecasts of heavy selling on the European exchanges.
The Dow's loss wiped out more than half of the 164.69 points gained in the last two sessions after three weeks of heavy selling.
Similar(42)
The FTSE 100 scraped back to positive territory despite early fears of heavy sell-offs triggered by the prospect of political uncertainty in North Korea, following the death of Kim Jong-il.
Tokyo lost 1.9% on heavy selling of bank shares.
During periods of such heavy selling, investors often sell off good stocks along with weaker companies.
The product description combined with the picture do most of the heavy selling work.
Late last month he uncovered what he says was a concerted attempt by a handful of firms to "manipulate the market down", by heavy selling of shares in the final 45 minutes of trading over successive days.
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