I noted the prospect of falling copper price earlier this week. Copper will retreat further.It appears that the bearish swing is developing. Copper price is now approaching a key support cluster area. Copper Daily Chart 8/5(click to enlarge)Support cluster:- 2.14 represents a previous resistance pivot area that some will use as a guide to buy.- We can also see that the 50-, 100-, and 200-period simple moving averages are clustered around 2.14. These moving averages might act as reinforcement support,- I am not saying that copper will turn up from 2.14.Bearish outlook:- The 2.14 level is a test of the bearish outlook. Bears are in control in the short-term so far since price retreated from 2.275. We might see a little short-term buying around 2.14, - But in the medium-term, if price breaks down this support, copper has some ways to go. - In fact, if copper price action follows the pattern started in March (lower high and lower low in a falling channel), then price is exposed to the 2.00 psychological low and support pivot going back to early 2016 and late 2015. - Since late 2015, copper has been in a choppy market with bearish bias. 2.00 is aggressive, but still a viable target in this mode. Bullish outlook:- A hold above 2.14 can maintain the bullish medium-term mode since June. - Let's say price consolidates above 2.14 next week, then breaks above this consolidation, we should anticipate another test of 2.275, and a possible break towards the highs on the year around 2.30.