GS Bullish On Copper
Anytime major investment banks publically make either bullish or bearish calls you have to read between the lines. Yes, copper is bullish, but it does NOT have the most upside potential of anything.
Copper is around 25% below it’s ATH of around $5 per pound. It has not been suppressed like silver for 50 years and trading at 50% of it’s ATH from 44 years ago.(inflation adjusted it’s ATH would be much greater still.)
Both are going higher but silver has more upside potential than anything on the planet. Whether it realizes it anytime soon, is a separate argument. Goldman either is looking to push copper for a client or distract from silver because the whole financial system surviving depends upon silver not exploding higher. https://www.zerohedge.com/markets/copper-soars-iron-ore-tumbles-goldman-says-coppers-time-now
Was just checking that.
I have COPR as a Sell Setup here. By rule.
Weekly exceeded its 3sd band (by quite a bit).
LT chart also looks very vulnerable right here.