Copper futures made a daily-scale bottom extension yesterday, after an accelerating drop for the last few days. This drop continues today with a further 20 cents fall (to the mid-night low point) and no doubt we will see another extension today. This is the moment to cover the remaining half short position that we advised in the November 25th edition. Half profits were already booked on December 1st after the price dropped through the partial profit-take level that we include in all trades in the Alpha mail series:
