This metal is easy.
The price of copper is not only driven by industries / global gdp anymore.
Well still by industries in a way but now there is a new thing to consider: the climate change pseudo science.
As a pseudo science, we cannot go and say "this is how it is therefore this will be the answer", and once again, finance drifts away from "real science" in this way:
Wind power demands alot of copper, I don't get why they don't look more into biofuels and hydroplants maybe one day they will and demand will drop but for now anytime the herd gets all excited and starts being conviced minuscule amounts of CO2 will magically make temperatures go up 10°C and this will make antartica melt (-40°C with most of the ice much colder than this) or better forget about elementary school science and think that the polar ice cap will make sea level rise, or other kind of ignorant hysteria, demand will go up in the short term... We can probably predict short term price spikes when there is a worldwide hysteria moment and plans to build alot of "green" power generators.
Could be easy money for years to come, possibly... And few people are interested in copper it does not sound new so the duning kruger herd won't get very excited by it, could be an easy free money niche for several decades. Mass delusions of the past did not vanish in a few years, Galileo died in a world that was convinced earth was flat (how logical) and wasn't even buried in a mausoleum as was planned because "heresy".
COP25 climate talks failed today... Looks like a catalyst for price to go down or do I have this wrong?, plus price is at resistance and doing some sort of little rising wedge
The price gapped up because it's a ponzi or because market participants are idiots, or maybe it will go up for whatever reason I don't know.
Reminds me of that september natgas & oil gap after aramco attack.
The price of copper is not only driven by industries / global gdp anymore.
Well still by industries in a way but now there is a new thing to consider: the climate change pseudo science.
As a pseudo science, we cannot go and say "this is how it is therefore this will be the answer", and once again, finance drifts away from "real science" in this way:
Wind power demands alot of copper, I don't get why they don't look more into biofuels and hydroplants maybe one day they will and demand will drop but for now anytime the herd gets all excited and starts being conviced minuscule amounts of CO2 will magically make temperatures go up 10°C and this will make antartica melt (-40°C with most of the ice much colder than this) or better forget about elementary school science and think that the polar ice cap will make sea level rise, or other kind of ignorant hysteria, demand will go up in the short term... We can probably predict short term price spikes when there is a worldwide hysteria moment and plans to build alot of "green" power generators.
Could be easy money for years to come, possibly... And few people are interested in copper it does not sound new so the duning kruger herd won't get very excited by it, could be an easy free money niche for several decades. Mass delusions of the past did not vanish in a few years, Galileo died in a world that was convinced earth was flat (how logical) and wasn't even buried in a mausoleum as was planned because "heresy".
COP25 climate talks failed today... Looks like a catalyst for price to go down or do I have this wrong?, plus price is at resistance and doing some sort of little rising wedge
The price gapped up because it's a ponzi or because market participants are idiots, or maybe it will go up for whatever reason I don't know.
Reminds me of that september natgas & oil gap after aramco attack.
Trade closed: stop reached:
Another day another L
