But what about copper ?

Congrats to Murray on completing the SIX HUNDREDTH post in this thread.....
which now spans 100 pages !

May copper at $3.04 this morning.
LME Stock levels down to 242,300 tons.....that is likely keeping a bottom on prices for the moment.
 
Quite a nice rally past few days.
For the downtrend to remain in effect, cash copper must stay under $3.20.
If that is breached, then purchasing pullbacks may be appropriate now.
 
I started selling more on Thursday close, higher highs on Friday and higher highs today in July. At best, short term highs I think are in, put on Call credit spreads and took profit on all Put Credit Spreads on Thursday. Trading is just about following one's method and nothing else. If the method loses money and I followed all the rules, then I pat myself on the back, this is nothing but a numbers' game.
 
July contract now the active front month. Market is still in contango albeit not as severe as it was 8 weeks ago.
Even-steven this morning as far as price goes.
 
syswizard said:
July contracting holding at 3.03 this morning.
There's that proverbial "line in the sand" at 3.00.
More...

Indeed.....a 4 cent rally has ensued. Of course there is likely no explanation.
Anyone notice that China's Shanghai Index has been going nowhere the past few months ?
 
Once again the red metal holds the line at $3.00.
Nice bounce on Friday.
Stock levels remain at record lows: 229,800 tons at the LME.
 
Copper off to the races this morning....up 6-7 cents !!
London stocks continue to decline: 208,325 tons.
That's one reason...the other is soaring equities.
 
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