I fail to grasp the general consensus where the overall impression seems to be that "bad technicals" but "a very pretty fundamental picture"?
LME stocks jumped +45% just since January alone! - How is that a "good" fundamental picture? (I must be missing something, especially with China not coming back, in any way resembling past demand.)
Long(er) term, one could...
In the following charts below, we will highlight why copper looks interesting to us right now.
Firstly, the Copper Outright prices (orange) vs the Calendar spread (black). Copper calendar spread tend to move in-line with its outright prices, until major turning points, when the calendar spread leads the outright price movement. In February 2022, we observed the...
COMEX_MINI:QC1!
Like the title says; SELL it - SHORT!
Regarding Wall Street's conviction, the "check mark shaped recovery" and other tall tales ...
.... this is the summary post.
... and here is their "Copper delusion"
Let's try Reality! ...
... Shall we?!
The original Gold / Copper Ratio post
... since this post:
and this post:
and this post:
... and so on.
Many of you asked "what is our single largest current position?". That's easy: Short Copper. (and WTI Crude)
Copper broke the range it was trapped in on Friday, and I've been long via IVN.TO for roughly a month now.
I'll be buying any dips or retests of the previous range.
As soon as we touch sub 4.50 for IVN i'll be buying.
-Healthy RSI, MACD crossing up on the 1D.
Today in unusual inter-market relationships we have Copper/Gold vs the US10Y.
I need to think about this more to grasp its claims upon reason, if indeed there are any!
