Copper prices have been going nowhere fast. In an August 16 Barchart article, I asked if buying copper on price weakness is a winning strategy. I concluded that piece with the following:
I am a buyer of copper at the current level, but picking a bottom when the trend is bearish is always challenging. Therefore, any buying will leave plenty of room to add on further declines over the coming weeks and months. Economic recovery in China, growing demand from green energy initiatives, and the increasing fundamental deficit in copper will likely lead to higher prices. The downside could be limited, while the upside price potential remains explosive.
