RE: Chart TA26 Apr 2023 09:40
I am truly amazed that no one on here understands what moves any commodity in either direction.
Just another piece of information that is out there.
It works like this.
Everyone I hope understands the basic principles of supply and demand.
But when in short supply the price does not keep increasing.
You have other downward pressures on the price.
For starters it depends what the commodity is being used for.
Will the product sell at the increased price.
If the answer is yes your supply continues in a contracted market.
However if it's no then the price can collapse as even though their is a shortage.
The market shrinks below the supply mark.
That's why BNC and I got it right when we Said gold would be around two thousand dollars an ounce today and the likes of colonelDrake and Redknight and others predicted between 5,000 to 10 thousand dollars an ounce.
They have no understanding, no matter how long they make there posts.
Copper can increase from current levels, but only if less of it is used in the end product.
Naturally inflation plays a part as well, but for the time being I cannot see copper exceeding 12,000 dollars per tonne.