#SaxoStrats. UPDATE: Copper under pressure from Fed outlook and USD
We have hit the first profit target of A$6.00 on OZ Minerals earlier today, netting +6.5% on half the position. Remaining target is still A$5.50.
We also now move the stop to the entry point from, A$6.85 to A$6.39 which failing any gaps up should leave only upside in the trade.
I continue to be bearish on copper, yet recent USD weakness as well as September looking to be off the table could change the investment case here.
— Edited by Adam Courtenay
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