Copper is currently testing strong support in this area from $298-$304 where 2011 and 2013 lows converge with the top of the 6 ½ year channel. A weekly close above this area already happened so it means Cooper would strengthen the bullish picture in the future.
Weekly momentum is very stretched here. It is more stretched than it was last year when EURUSD peaked. Lower levels on the pair from here will lead the momentum to cross back down.
While the shape of the recovery continues to be very similar to that seen after the 2009 low the magnitude of the move is less. We have not and would not expect the bounce from a structural supply driven fall to be as aggressive as that generated by a collapse in economic activity/demand.