Copper caught my attention this morning after it bounced strongly following its recent 7% pullback, a move which clearly helped sentiment in the resources space e.g. BHP rallied over 4% in the US. Subscribers should also remember that ”surprises usually happen with the trend” and in the case of the resources they’ve been very bullish over the last 12-months, a test of ~$US450/lb in the coming weeks feels a strong possibility as the stimulus taps remain firmly turned on in the Western world.
MM remains long & bullish copper short & long-term.
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