Copper at a new high

Copper continues its uptrend in line with our expectations. It has hit a new high.

It is now near earlier resistance line. Once it resolves this the territory is clear and it can go higher than most can imagine. This is classic risk on behaviour. The relative strength vs gold has also gone higher.

This shows investors preference for riskier assets vs defensives. Let us not fight the trend. Stay long till the charts suggest otherwise.

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