DislikedCopper to be flushed down Watch out of the copper traders for the next macro move {image} Have a look at the producers, they are going heavy on the short side. They are increasing their short bets, hedging bigger as we move up. {image} Dumb money, money managers is going net long after a steep rise....don't be the bag holder I just ignitiated a short today, will add if we rise more. Time to clear weak longsIgnored
I mentionned the past weeks that copper is about to fall (it was right at 2.8 dollars). It rose to almost 3 dollars, before going back to 2.8 dollars this week.
I'm still holding and adding shorts, nothing has changed, here is why below
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I'm eyeing at a 10/15% move down from here, which could lead to 2,5 dollars and below.
Its a weekly trade, so no rush for the price to move in profits
COT: The precious data ignored