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

 

Copper

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

 

  • Chinese Credit Creation vs Copper:

 

Credit Creation vs Copper price

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.

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