The copper market does not look attractive for the buyers now.
Most recently the game called "Copper Futures" became very popular:
As the chart shows, now the open interest in copper futures stands at its historic high of 296 thousand contracts.
What is more, the copper trade is not only overcrowded but I see excessive optimism among speculators as well:
Money Managers (in other words, big speculators) are holding the largest long positions in copper futures in history.
Summarizing - the copper market does not look attractive for the buyers now.
This article is not an investment advice. I am not a registered investment advisor. Under no circumstances should any content from here be used or interpreted as a recommendation for any investment or trading approach to the markets. Trading and investing can be hazardous to your wealth. Any investment decisions must in all cases be made by the reader or by his or her registered investment advisor. This is strictly for educational purposes only.
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