Trading strategies for copper and nickel by Tradebulls Securities

For Copper sellers to gain upperhand, they must breach the support of 668 levels

Hedge funds continue to dump gold as CFTC report shows money managers decreased their speculative gross long positions in Comex gold futures by 10,385 contracts to 96,223. Gold’s net length is at its lowest point since May 2019 and such low net long positions are in order to reduce risk of further slide in prices as weak hands are already out of the market. Signs are that gold has found bottom after streak of successive weakly loss. In Comex, gold is unable to break $1,680. ETF outflows are also starting to stablize as Friday saw outflows of only 1.6 tons,