Saturday, 25 May 2013
Down on Copper
Bearish news for copper. The "smart money" commercial hedgers have gotten significantly bearish on copper in their net futures and options positioning as compared to recent data, according to the latest Commitments of Traders report.
That's helped push my copper trading signal into the bearish column. The signal takes effect on next week's open of trading.
See my latest signals table for more details on the copper positioning and how traders are positioned in the nine other markets I trade using the free weekly COT data from the U.S. Commodity Futures Trading Commission.
Good luck next week.