Copper is in trouble as ongoing data out of China (and broader APAC/ASEAN nations). Just moments ago, South Korea's first 10-days of exports contracted 19.1 percent YoY and imports dropped 15.4 percent. South Korea is a global bellwether for economic growth and the first of the Asian countries to report.
Quantitatively, we'd short copper at the TACVOL range top which is available to premium members.
Here are the current near- and intermediate copper ranges that update daily. Effectively, short or sell at the top, buy or cover at the bottom.
Near-term: 2.97/2.57
Intermediate: 3.03/2.57
The 20-week z-score is 2.12 which indicates it is more than two deviations from the mean. A healthy pull back is in the works.
Quantitatively, we'd short copper at the TACVOL range top which is available to premium members.
Here are the current near- and intermediate copper ranges that update daily. Effectively, short or sell at the top, buy or cover at the bottom.
Near-term: 2.97/2.57
Intermediate: 3.03/2.57
The 20-week z-score is 2.12 which indicates it is more than two deviations from the mean. A healthy pull back is in the works.
