Re: Copper 02 (Nov 12 - Dec 16)
Posted:
Sat Jun 25, 2016 10:41 am
by winston
This Metal is Gearing Up for a RallyBy Jeff Clark
Copper is gearing up for a rally.
We last discussed copper in Growth Stock Wire last November. Back then, the metal traded for about $2.10 per pound. And the chart looked bearish.
I told readers to avoid the temptation of buying the beaten-down metal. As I wrote…
The best the copper bulls can hope for is a period of consolidation – where the price of copper chops back and forth in a tight trading range for several weeks. The worst case is a move all the way down to the support line of the 2009 low.
As it turned out, the “best” situation happened. Copper has been consolidating in a relatively tight trading range for the past seven months.
Source: The S&A Short Report
http://dailytradealert.com/2016/06/24/t ... r-a-rally/
Re: Copper 02 (Nov 12 - Dec 16)
Posted:
Wed Jul 20, 2016 8:08 pm
by winston
This Metal Is Approaching 'Buy' Territory
By Brian Weepie
Gold is up more than 25% from its December low.
But as regular Growth Stock Wire readers know, I've shared the reasons why silver and platinum would outperform gold in the past few months.
In March, an ounce of gold cost more than 80 times the price of an ounce of silver. That was the highest level in the gold-to-silver ratio since 2008. Since then, gold has rallied 10%… But silver has jumped more than three times as much (32%).
Last month, an ounce of gold traded at a 20% premium to an ounce of platinum. That hadn't happened from 1990 to 2015. Platinum is almost always more expensive than gold. Gold is up 6% since my June 24 essay, but platinum has climbed 13%.
Right now, we're beginning to see a similar relationship between gold and another metal…
The chart below shows the relationship between gold and copper since 1990.
Please Enable Images to See this
Today, the gold-to-copper ratio sits around 600. That means for every ounce of gold, you can buy 600 pounds of copper.
As you can see, the ratio has only been this high one other time in the past 26 years – just after the real estate bubble burst in February 2009. The ratio peaked at 707. At that time, gold traded for a little more than $1,000 an ounce, while copper cost $1.42 per pound.
The ratio peaked again in October 2011, reaching 542 before starting to fall. Copper outperformed gold by nearly 35% over the next two years as gold tumbled from its August 2011 peak. Though gold dropped, copper traded 10% higher over this period.
Here's a look at the gold-to-copper ratio since early 2015…
Please Enable Images to See this
The ratio has climbed steadily since last May. Most of its highs have been higher than the previous ones. And its lows have been higher, too.
But we need to be careful… The chart doesn't mean copper has turned the corner here.
The ratio has fallen from about 640 to 600 over the past week. This is promising, but we've seen it before. In order to confirm that copper is outperforming gold, we need to see it fall through its previous lows.
First, the ratio needs to break below last month's low of 581. After that, the next confirmation of copper's strength would be a break to less than the lows of 543 in March and April.
If copper is able to break through these levels, that will be our confirmation to buy into the sector. Copper producers like Southern Copper (SCCO), Freeport-McMoRan (FCX), and Nevsun Resources (NSU) will be the main beneficiaries of such an uptick.
Source: Stansberry Resource Report
Re: Copper 02 (Nov 12 - Dec 16)
Posted:
Sat Jul 23, 2016 5:16 pm
by winston
Traders Should Buy This Metal Into Any Short-Term WeaknessBy Jeff Clark
Copper has been consolidating for the past several months. If it can break out to the upside of this pattern – which will take a move to more than $2.43 per pound – then it will open the door to much larger gains.
In the short term, copper has had a great move and is now bumping into resistance. Don’t be surprised if it pulls back a bit from here.
But the longer-term picture for copper is turning bullish. Traders should take advantage and buy into any short-term weakness.
Source: The S&A Short Report
http://dailytradealert.com/2016/07/22/t ... -weakness/
Re: Copper 02 (Nov 12 - Dec 16)
Posted:
Thu Oct 27, 2016 7:39 am
by winston
vested
The Best Risk-Versus-Reward Trade in the Market By Jeff Clark
Traders who buy copper right here at $2.09 per pound can set a tight stop on the trade at $2.07. If the support line doesn’t hold and copper breaks down from here, traders can exit the position for a small loss.
On the other hand, if the support line holds and copper bounces from here, it will likely move back up toward the resistance line at $2.22. That would be a gain of more than 6% from Friday’s closing price.
Source: The Growth Stock Wire
http://www.thetradingreport.com/2016/10 ... he-market/
Re: Copper 02 (Nov 12 - Dec 16)
Posted:
Tue Nov 15, 2016 3:24 pm
by winston
World's Largest Copper Miner Cuts Premium on Delivery Price to China by Over 0.25% Next Yr
Codelco, the world's largest copper miner, cut its premium by more than a quarter on cooper sold to China next year, registering the lowest premium since 2009, Reuters reported.
Rodrigo Toroat, senior vice president of business, said the actual delivery price to China next year was US$72 a tonne above London Metal Exchange (LME) benchmark price and below US$98 a tonne this year.
Source: AAStocks Financial News