Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Copper is on the verge of an upside breakout, says analyst Michael Noonan from Edge Trader Plus.
According to the expert, the trend started at the end of January and it is likely to continue:
Anything can happen in the markets, but you base your decisions on what is known and not on what may or may not happen. Could the potential breakout fail? Yes. Based on what is known, as of Friday, the odds say No.
As a rule of thumb, he recommends to go only with what is proven or confirmed.
(Image by Ramone/Shutterstock.com)
