Keeping tabs on my Copper call

I was interviewed for this article (link below) on May 11th, 2021 in which I’m calling for a decline in the price of Copper.

Topically, Copper peaked a day earlier at $4.89.

Since that day, Copper’s price has fallen 14%.

https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/experts-caution-on-copper-after-decarbonization-stimulus-driven-price-boost-64381465

On April 30th, 2021, the post link below highlights the consensus Long Copper trade.

https://www.linkedin.com/posts/robzdravevski_trap-reversion-overbought-activity-6793874441995726848-EXOm

My target price over then next few months is $3.43, which would coincide with a 50% retracement of the 15 month advance from March 2020,

but we’ll need to see if it holds the $4.04 level first.

June 29, 2021

by Rob Zdravevski

rob@karriasset.com.au