Not all commodities dance to the same tune

If I think Glencore’s stock price can trade a further 28% below today’s level, (down to 289p) is this an analogy for the S&P GSCI Index and the price of Copper?

That may equate to a copper price somewhere near US$3.05

The weekly chart below overlays the prices of all three.

However, my view on commodities is bifurcated.

There are some which I am currently constructively bullish on.

August 9, 2024

by Rob Zdravevski

rob@karriasset.com.au