Copper getting accumulated?
This current chart represents the long side from producers of copper. As you can see, they are very good at accumulating longs on bottom. They know their market. Its not producers, but more like consumers here.
Chart speaks for itself
On the other side, the short side of money managers are going extreme short at bottom. That's what they doing right now.
I wouldn't buy yet. But its getting ready days after days (or likely weeks after week COT wise)
I find copper a bit expansive now though. But i may jump soon as 2.4 dollars sounds a good support
Attached Image
This current chart represents the long side from producers of copper. As you can see, they are very good at accumulating longs on bottom. They know their market. Its not producers, but more like consumers here.
Chart speaks for itself
Attached Image
On the other side, the short side of money managers are going extreme short at bottom. That's what they doing right now.
I wouldn't buy yet. But its getting ready days after days (or likely weeks after week COT wise)
I find copper a bit expansive now though. But i may jump soon as 2.4 dollars sounds a good support
COT: The precious data ignored
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