Preview to the Long Copper trade
July 18, 2022 Leave a comment
The attached chart shows circles that coincide with moments when the price of Sandfire Resources (SFR.AX) has traded 2.5 standard deviations below its weekly rolling mean, touched its 200 week moving average and registered a weekly Oversold reading.
This price action mimics the decline and low in the price of Copper.
Remember that ‘electrification’ theme mentioned a year ago?
It’s now 40% cheaper.
An added benefit is that Copper sales made in U.S. Dollars are sweeter with an even lower Australian Dollar.
July 18, 2022
by Rob Zdravevski
rob@karriasset.com.au
- this is not personal advice. see my disclaimer. seek your own advice, pay for some or do your own work before finalising an investment decision.
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