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

Know where you are in the range

Copper is attracting much attention, which is not unusual once an asset price has doubled.

Fundamental bullish cases are being made for rising demand compared to its tighter supply…..

but in the meantime the long-term price action suggests caution if you are thinking of establishing a new ‘long’ position.

This is only the third time Copper has traded at 3 standard deviations above its monthly mean is past 25 years.

#trap #reversion #overbought #copper

April 30, 2021

by Rob Zdravevski

rob@karriasset.com.au

Copper is rolling over

Doctor Copper tells us much about the economy.

For now, its downtrend is being confirmed and strengthening.

Let’s watch if it falls 3.5% and holds that level.

February 2, 2021

by Rob Zdravevski

rob@karriasset.com.au

Copper Rally To Fizzle

At today’s $3.48, Copper’s bull run from April’s $2.30 is done for now.

I’m still a commodities bull and will watch closely and may become interested again at $3.15.

Also, watch for implications a falling Copper price has on U.S. 10 Year Government Bond Yields.

Linked Post.

December 2, 2020
by Rob Zdravevski
rob@karriasset.com.au