maandag 15 juli 2013

Copper goes into backwardation

As gold went into backwardation, now also copper starts going into backwardation.

We should see some upside in copper following this move into backwardation. But as opposed to gold, backwardation in copper isn't a good sign for the copper price. Meaning, if we see too much backwardation in copper (red curve making a bottom), you should expect a top in the copper price.

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