01/21/2015 – Copper
- January 21, 2015
- Copper
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
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.