Issued: 01/21/2015
March copper:
1. The next important daily bottom in March copper is today, Wed., Jan. 21 (+/-1 day).
2. Therefore, continued hourly and especially a daily close today above 254.00 indicates new long entry for a tradable advance and test/attempt at $266/$67 (or higher) into late this week (week of January 19). Aggressive can enter intraday during today’s session.
3. Partial long position exit should be taken at/near $262.00, a further portion exited at/near $266, and any remaining portion held for higher prices to be messaged in a subsequent update.
4. A protective sell stop should be placed at $252.00. The stop will be moved higher as the market continues to confirm. Will update.
David Williams
Issued: 01/21/2015
March copper:
1. Today’s (Wed., Jan. 21) earlier March copper report noted that continued hourly and especially a daily close today above 254.00 would indicate new long entry for a tradable advance and test/attempt at $262.00, then $266/$67 (or higher) into late this week (week of January 19).
2. Aggressive entered intraday at/near $257.00 during today’s session.
3. Partial long position exit was taken at/near $262.00, noted in the previous report. A further portion should be exited at/near $266, and any remaining portion held for higher prices to be messaged in a subsequent update.
4. Our protective sell stop should be placed at $258.00. The stop will be moved higher as the market continues to confirm. Will update.
David Williams
Issued: 01/22/2015
March copper:
1. Our Wed., Jan. 21 March copper report noted that continued hourly and especially a daily close above 254.00 would indicate new long entry for a tradable advance to at/near $262.00, then $266/$67 (or higher) into late this week (week of January 19).
2. Aggressive traders were instructed to enter intraday at/near $257.00 during yesterday’s (Wed. Jan. 21) session.
3. Partial long position exit was taken yesterday at/near the forecast $262.00 initial upside target,
4. However, today’s (Thurs., Jan. 22) declined and hit our protective sell stop at $258.00. This resulted in a successful trade overall.
5. Today’s decline may present a secondary long entry opportunity in March copper. Will update as the market confirms.
David Williams