Post by
pulcan on Jul 06, 2022 7:14am
Copper crashes lower no stopping in sight!!
hi all, more bad news this morning as we hit $3.38 a lbs and there is no signs of slowing this train downward. Until the Federal Reserve the next round of interest rate hikes this month we can see $3 a lbs. I would never ever expect this as $3.50 was a modest target and now its looking worse. Unless the US make a surprise announcement to hold off this months rate hike or any hike. We are not looking good. As for Northwest Copper i see .30 cent target in the works and POSCO news on the last $3 million shares will be over 6million so far on the 20day VWAP. As for now good luck today and take profits where you can. Hold on to your cash positions for a dip and an entry point. see link for the latest GOLD, Silve, Copper and oil prices.....https://www.investing.com/commodities/copper-historical-data
Comment by
oneoone on Jul 06, 2022 2:38pm
A bit strange that base metals are falling so much as lme stocks are still low