Here’s the chart as stands today, with the latest LME number hot off the press:
UPDATE: Nervous copper longs send anonymous messages to Otto, hiding their fear and loathing of his superior economics skills behind mockery.
Copper levels up a bit lately.. STOP PRESS! LOL Otto, come on.. it was at 550,000 tonnes this February and now it is at 300,000.. it’s a natural swing. I expect the spot to retrace to around 2.40-2.50 before another run up. Didn’t you say it was ready for a pullback around 2-2.20? That was over 30% ago. We know you are bearish on copper but you were plain wrong. Let it go.