Copper - (continued) SHORT; for now ...I fail to grasp the general consensus where the overall impression seems to be that "bad technicals" but "a very pretty fundamental picture"?
LME stocks jumped +45% just since January alone! - How is that a "good" fundamental picture? (I must be missing something, especially with China not coming back, in any way resembling past demand.)
Long(er) term, one could make a case, perhaps, but only by disregarding the hole that the decline of Chinese demand will poke into global fundamentals.
On the other hand, Copper/Gold ratio looks rather bullish.
Here is a close-up;
As for the Copper/Gold Ratio;
That is definitely what bullish looks like!
Stay SHORT for now (... and then make a lot of money trading it from under 3.50 ;-)