Copper Future prices declined and tested 3.0600. There were some particular reasons for this decline:
Rise on the DXY
Our main target on Copper Futures 3.32 for the next 3 months.
Copper Non-Commercial Speculator Positions:
Large precious metals speculators continued to increase their net positions in the Copper Futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totalled a net position of 53,252 contracts in the data reported through Tuesday, October 24th. This was a weekly advance of 1,765 contracts from the previous week which had a total of 51,487 net contracts.