06/09/2015 – Copper
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
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.