08.12.2015 - Copper shorts suggest metal oversold, says Citi
Copper bears may have gone too far this time. Money managers are holding the biggest net-short position in two years in copper futures traded in New York, US government data show. Total bearish wagers doubled last month, approaching a record set in August even as prices have dropped more than 10 per cent since then. Now, Citigroup says the metal may be "oversold" and that the near-record short position could exacerbate price swings in 2016. Net-short positions in copper futures and options surged in the past five weeks to 36,893 contracts, the most since April 2013, when they reached an all-time high, according to the Commodity Futures Trading Commission data Friday...............................................Full Article: Source
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