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Publication Time: 07h50
THIS IS AN UPDATE ON MY SHORT/MEDIUM TERM VIEW AND LONG TERM VIEW.
SHORT TERM: Copper is trading at multi-month highs.
Unum Capital clients were alerted to a positive technical structure on on Thursday 16 November.
Over the period, Copper is higher by 14.5%. This is a significant move for one of the world's most in demand commodities.
Copper Futures as of this morning.
LONG TERM: My bull thesis for the commodity remains in tact. The chart (with detailed comment) below, was presented to Unum Capital clients 4 years ago, on 03 May 2020.
At the time, Copper traded at $2.31. Two years later, it rose to a high of $5.05 before commencing a consolidation phase.
Lester Davids
Analyst: Unum Capital
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