Head and Shoulders Pattern

On the back of our discussion yesterday on copper, I noticed this chart of Southern Copper Corp (SCCO).

The stock seems to be tracing out a textbook head and shoulders pattern (bearish implications). Should SCCO break below support at 40ish, then technically it has 'room' lower to 32ish.

Interesting that various copper miners (see also FCX0 and refiners are trading 'heavy' relative to the underlying commodity.

position in copper