Issued: 06/08/2015
July copper:
1. Any hourly or especially a daily close above $270.50 in July copper will place the market into a ‘Buy’ position for a quick advance and test/attempt at $273.75 (or higher) into mid week (week of June 8).
2. Partial long position exit should be taken at/near $271.30. The remainder held for the main target at/near $273.75. Any remaining long position can be held for the possibility of higher prices to be messaged in a subsequent update.
3. Once long, initial protective sell stop should be placed at $269.00. This stop will be moved higher as the market continues to confirm. Will update.
David Williams
Issued: 06/09/2015
July copper:
1. Our previous (Mon., June 8) July copper report (and yesterday’s live meeting) indicated that any hourly or especially a daily close above $270.50 in July copper would place the market into a ‘Buy’ position for a quick advance and test/attempt at $273.75 (or higher) into mid week (week of June 8).
2. Yesterday’s Globex session closed hourly above the $270.50 level indicating new long entry (at approximately $270.95). Today’s (Tues., June 9) Globex session also closed hourly above $270.50, as well.
3. Today’s session made a swing high of $273.55 against the forecast target at/near $273.75, so far. It is considered prudent to be out of the trade with your gains at this point. Will message any further entry or indication in July copper.
David Williams