Doctor copper, I've got a bad case of loving you
Copper's recent rise is not driven by GameStop-esque hijinks, but nevertheless brings with it a warning
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IN 1980, Robert Palmer sang: "Doctor, doctor, give me the news / I've got a bad case of loving you." In 2021, the tables are reversed and the market seems to have fallen in love with Doctor Copper, driving the red metal to fabulous new highs at around US$4.30 a pound.
The rapid 117 per cent rise from the February 2020 low of US$2 is notable for the behaviour of the trend.
This was not the usual slow and steady trend move, with extended periods of sideways consolidation.
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