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Could Copper Be The Next Oil?

Published 05/10/2021, 02:35 PM
Updated 07/09/2023, 06:31 AM

In the world of financial stories, one of the most common themes is how such-and-so is going to be “the next” followed by fill in the blank. Often the blank is “Amazon” or “GameStop” or “Tesla.” This time, the two nouns involved are “copper” and “oil”:

The Headline Says It.

I was intrigued by this, and judging from these charts, I’d say the idea of copper doubling from here is far-fetched. In fact, I’d say the very publication of such articles is more a sign of a top than the beginning of a new bull run:

Copper Chart.

Another View Of Copper Chart.

Copper Chart With Moving Averages.

And Another View Of Copper Chart.

Latest comments

yes. copper melted down is great for powering space shuttles and alien ships
No way is cooper anything like oil. Oil will continue to grow in demand as the world population increases. UCO
Cu to $6,50 in 2024 is feasible as We try to DeCarbonise, and $7,50 in 2027 as shortages rise unless many new mines with high Cu 3% ore start today.
really ?
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