Copper Preparing for Major Trend Change

In the copper market, we continue to check the Commitment of Traders report for buy triggers. We are at a cyclical low for copper, and trader sentiment is at a low. This is the typical setup a major change in trend. However, as buy triggers have not yet been given, we cannot yet justify a buy.

Gold showed a daily sell trigger in early November, and it remains for all precious metals that no buy triggers have been given since that time.