Copper long part 2
The price of copper remains below the $ 6,000 a ton mark and is currently unable to benefit from positive news. It looks fundamentally good. However, not all copper stocks suffer from low prices. As the economic outlook worsened, the copper price fell below $ 6,000 a ton. There he seems to be caught for the time being, although the stock markets celebrated a veritable comeback after the December burglary. Even the weak dollar has not helped the red metal note so far. By comparison, the oil price has benefited much more from the rebound in the markets and the change in the course of the Federal Reserve. Almost all the arguments that apply to oil - weak dollar, rising stock markets, lower inventories - also apply to copper. Nevertheless, so far the rebound for copper is missing!
For all who want to join me, I will go long with copper with a leverage of 1:10.
Beste Grüsse aus Frankfurt am Main