maandag 8 april 2013

Update: Copper Contango Experiment

I see a potential bottom in copper forming.

For one, the contango (red dots) have formed a top, which always coincides with a bottom in copper price (Chart 1).
Second, the large commercials are highly long on the copper COT report, which always coincides with a bottom in copper price (Chart 2).

Chart 1: Copper Contango Vs. Copper Price

Chart 2: Copper COT report
Chart 3 : Copper Price

Gepost door op 22:42
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1 opmerking:

  1. Anoniem16 april 2013 om 23:16

    Has copper reached the bottom of its price range?
    The recent drop to 3.30 lb means that copper is at its lowest price this year, but COMEX and LME inventory is still rising, so prices might fall even more....

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