Copper possible monster

COMEX:HG1!   Copper Futures
Big demand for indu metals. Or at least price is going up for some reason. Maybe suriv supply problems?

Been following this one for a while. Could be a time to buy again. I don't even remember how many times I got in and out in the last 3 months.
Not dozens either but more than once or twice.

Anyway in general they (real world use metals) go up this year.

A big scary rapid move down is exactly what I was waiting to see in this market. I hope other buyers got scared and removed their orders (and will buy higher when there won't be big scary moves)

Anyway with a RR huge like this I don't need to win often here.

Worth a shot imo.
Trade closed: stop reached
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one to keep an eye on, cheers :pepenod:
+1 Reply
What do you make of today's market? Broke .786 of last wave up, now bounced above, but now I'm thinking it's meandering under .618 @ 2.9780 that it'll fail and head a lot lower under 2.85.needs to take out last bounce high @ 3.0050 to argue otherwise.
I think you have the right idea. It looks very bullish to me as well. Generally thought as bell weather metal, but despite indicators of economic recessions...CCP is expanding it's military, and U.S. likely to respond in kind. Countries are likely to stockpile elementals, and metals and lithium, elc ( my guess, not fact ). I was looking to short copper for a couple of weeks...but too bullish looking imo. On the same topic...if any of this is true...Silver is an industrial metal and may have industrial demand as well as currency considerations. These are crazy, tumultuous times. Does not feel safe.
What is a number one byproduct of copper mining? Ag.
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