My latest bearish signal for copper was on 30 April 2016.Since then price of copper dropped by 8.86%.This week I got a bullish signal for copper based on the total number of new long contracts opened(7,642) vs net number of old short contracts closed(4,535) in the last 2 weeks.I also got a Pearson correlation coefficient(PCC) = -0.7 for the last 3 weeks and this means a strong enough negative correlation which means that bearish sentiment has been falling quickly enough and bullish sentiment has been raising fast enough for this commodity.Therefore I expect price of copper to rally in the next days/weeks.Check my trackrecord2016 file and strategy on my free websites:
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