Yesterday we saw that the copper turned a little bit back into backwardation. This means that we will see the copper price go up in the future. As the copper contango turns back below 0 (backwardation), copper price should go up.
Let's see if this will happen, hopefully the contango theory is right. I'm still betting on a copper break out.
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| Chart 1: Copper contango Vs. Copper price |
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