Slow and steady wins the race for Copper - yea right!

In June I started a Target for Copper at 10,677.

THe result - nowhere slowly.

Now if one was holding this trade, it would have been costly.

Not only opportunity cost but also actual daily interest charges...

So why is Copper moving nowhere slowly?

🏭 Oversupply outweighs demand
📉 Tariff hype fizzled out
🌍 U.S. & global prices misaligned
🇨🇳 China demand cooling
⏳ Market in wait-and-see mode

The target is still on but it can take a while and you might need to read Vogue or something.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.