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Chart of the day is...

...copper, near-term:

Sometimes it's more interesting when a chart does nothing. I found it pretty amusing to watch Goldman Sachs roll out its "copper supply wall" hit jobs recently, they choosing the August quiet period (vacays in N.America, slacking buying period in China) to try and scare people out of bullish positions. The reaction to the Vampire Squid has been Damp Squib, copper's holding very nicely, real money knows that GS are happy selling their own grandparents (i.e. fading their own clients). The bottom is in with copper, the only difference is that the rebound hasn't been and is unlikely to be as quick and springy as gold (or others).