lumber futures getting dumped, copper the next shoe to drop. Volume just getting a shellacking. Time to lock in profits unless you're looking for red candles to accrue moneyness.
The 30s looking really indecisive.
The 30s looking really indecisive.
Commento:
Commento:
regression trend reading like a playbook...
Commento:
hmmm. front month copper futures down a percent but this thing rallying. If it's a game of chicken to sell into options exp., will wait the final hour of trading to watch volume trail off here 👌🏽
hmmm. front month copper futures down a percent but this thing rallying. If it's a game of chicken to sell into options exp., will wait the final hour of trading to watch volume trail off here 👌🏽
Commento:
Copper now tanking -2% on the day. Ready for another cascade this afternoon....
Copper now tanking -2% on the day. Ready for another cascade this afternoon....
this should spend a few days to a couple weeks to consolidate & churn. looking for steady eddy support before eyeing calls again. FCX is trading in a historical death zone; rarely stays up here at these levels. Really need to look at the Chileans and see what kind of production they're ramping into post-pandemic before going long copper. IMO 60% of this trade is just hogs chasing, the other 40% is a proxy if the FED tapers.