I know that Spec Longs are high, and we've had a run since Nov... But copper keeps climbing the same sloped rising trend lines... Escondida and Grasberg shutdown's aren't fully priced in IMO. I see a major rising trend support holding us at 2.65 at the worst, and I think we see 2.8+ soon. I wish to god it would jump to 3$ quick enough that I don't wuss out and sell, but I'm just not sure the world is ready for 3$.... 3:1 Reward/Risk while we are sitting at 2.7...
I've created a dedicated chat room just for copper. Tired if sifting through "GOLD" and "Commodities" for group thoughts. Please follow and contribute. "Copper - HG"
I've created a dedicated chat room just for copper. Tired if sifting through "GOLD" and "Commodities" for group thoughts. Please follow and contribute. "Copper - HG"
Trade closed: stop reached:
Completely screwed the pooch on this... No idea that 100,000 tons of copper was about to be dropped on the LME's doorstep.... Always when I'm maxed on a trade does it crap itself.... I think HG is strong with great returns in 2017, but this selloff has been brutal.