Commodity Assets
COPPER
Scenario 1. Since 2020, the commodity market might have been going through a supercycle. Scenario 2. Copper could be undergoing a brief correction phase before retesting the lows of 2022. The catalyst for this scenario might be a recession expected to materialize in 2024.
NATGAS
After the dramatic decline since August 2022, the market might be entering a transition phase in which the trend goes from down to a period of relative stability.
GOLD
It’s probably too early to initiate a long position here. The downward trend from the previous highs may still be in progress.