It happens slowly and then all at once

In this article, we will review the potential bias for 2024 which was published in January this year.

Already happened in H1 2024:

• A robust H1 for all the LME base metals prices which fits with our Q1 curled up arrow.
• Q2 price peak and/or may have hit the 2024 high, a reversal is underway.

About to happen in H2 2024:

• Q3 is where we see most of the positive tailwinds that supported LME base metals prices to run higher in H1 of 2024 has faded away and there is a growing sense of uncertainty. When there is uncertainty, it is wise to sell first and ask questions later.
• Q4 could see choppy sideways trading pattern with a potential annual low forming here and sentiment in the last trading quarter of the year is likely to offer clues on overall market participants' sentiment for 2025.

This is my current thought process:

• Looks like the first 2 trading quarters' biases were right in the money but I remain somewhat uncertain on what to expect in Q3 and Q4.
• Current price weakness is unsurprising but most LME base metals prices are coming to test some very strong technical support levels.
• Should they fail to find fresh dip-buying interest and/or create a higher low, there is a risk for more downside to spill over in Q3.

Perhaps the quote above from Walter Deemer will resonate better once the price action confirms if the bullish run seen in April this year can continue or not. Otherwise, I hope you will always cherish the memes on copper that are shared here on LinkedIn as informative and entertaining.

https://www.dhirubhai.net/posts/andyfar_cobalt-coffee-cocoa-activity-7198299062930948097-Lur7?utm_source=share&utm_medium=member_desktop