Unpopular Opinion – Copper futures will soon be a better buy than a sell.
Unlike precious metals such as gold and silver, copper is primarily used in industry. The most common use of copper is electrical equipment such as wiring and motors, but it is also used in housing for roofing, guttering, and plumbing. Reading today’s headlines, a recovery in these areas feels impossible but a lot can change in the next 30 days. Perhaps copper futures will hold support near $2.00 and make a move back toward $3.00 in the coming months.