The #Copper# Grade #1 Futures large speculator standing this week was a net position of 23,739 contracts in the data reported through Tuesday. This was a weekly decrease of -8,716 contracts from the previous week which had a total of 32,455 net contracts.
This week’s current strength score (the trader positioning range over the past three years, measured from 0 to 100) shows the speculators are currently Bullish with a score of 55.3 percent. The commercials are Bearish with a score of 40.9 percent and the small traders (not shown in chart) are Bullish-Extreme with a score of 81.3 percent.
Price Trend-Following Model: Weak Downtrend
Our weekly trend-following model classifies the current market price position as: Weak Downtrend.
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