157 days ago • Posted by Charles-Henry Monchau

Too much optimism on Copper?

The chart below shows data from the Commitments of Traders (COT) report: 33.17% of open interest for copper is long on net. This reading has taken a near-vertical run higher over the past several months, and Friday's reading reached the highest level since January of 2004. That most recent reading stands in the upper 2% of all readings - source: Bespoke 

Speculator Net Positioning on Copper