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Albert Sung is the author of the Katchum Macro-Economic Blog, monitoring breaking economic news from a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at... More
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  • Copper Has Bottomed Out In The Short Term 0 comments
    Apr 8, 2013 4:46 PM

    I see a potential bottom in copper forming.

    For one, the contango (red dots) have formed a top, which always coincides with a bottom in copper price (Chart 1).

    Second, the large commercials are highly long on the copper COT report, which always coincides with a bottom in copper price (Chart 2).

    (click to enlarge)

    Chart 1: Copper Contango Vs. Copper Price

    (click to enlarge)

    Chart 2: Copper COT report

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