Charts of the Day: Warning Signs For Copper

• Money Managers (semi dumb money) net long positions at 2 year highs (at least):

COT  Money Managers positioning: Copper  (Source: David brady @ https://twitter.com/GlobalProTrader)

• Chinese Credit Creation vs Copper:

Credit Creation Y/Y vs Copper price.

… These are huge warning signs for investors that are long copper.

Zerohedge recently posted an article titled “Something Strange Is Going On: Axiom Stumbles On The Reason Behind Explosive Industrial Metals Surge”, which I encourage anyone interested in base metals to read.