With noted declines seen in Asian copper prices overnight, substantial weakness in global equity markets and adverse currency market action, copper prices are likely to remain under pressure this morning. In fact, July copper saw a downside breakout on the charts again that put copper prices down to the lowest level since January 5th. Copper might have found some modest support last night with fresh easing hints from the Chinese Premier, but some traders feel that physical commodity markets may have discounted that news because of dominating global economic slowing concerns from a number of diverse geographical regions. Market expectations for a positive result from the EU summit are running very low, and it could take a very strong US New Home Sales number later this morning just to put the brakes on copper's selloff.