Copper even managed to outperform crude oil on Friday propelling related stocks in the US significantly higher, the Global X Copper ETF we hold in our Global Macro ETF Portfolio surged 9.8% boding well for OZ Minerals (OZL) and Sandfire (SFR) this morning. At this stage, we see no reason not to believe copper won’t maintain its upside move into Christmas.
- We have now adopted an outright bullish stance on the industrial metal following Friday’s +7.6% surge.
MM is now bullish on copper targeting the $US390-400 area
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