Issued: 12/10/2014
March copper:
1. A daily close today (Wed. Dec. 10) above $290.10 in March copper is the stronger position and places copper in a ‘buy’ position for a test/attempt at $294/$95 (or higher) later this week (week of Dec. 8). A subsequent report will confirm the above.
2. Once long, a protective sell stop should be placed at $288.10. This stop will be moved higher as the market continues to confirm. Will update.
David Williams
Issued: 12/11/2014
March copper:
1. Yesterday’s (Wed., Dec. 10) March copper report indicated that copper would be in a ‘buy’ position for further advance and test/attempt at $294/$95 (or higher) later this week upon a daily close above $290.10. Yesterday’s daily close was $289.50, slightly below that level.
2. However, today’s March copper session has advanced and is in a ‘Buy’ position (being well above $290.10) but with much less room left on the upside to the original $294/$95 (or higher) upside target. Therefore, only aggressive traders should consider new entry.
3. A protective sell stop should be placed at $291.40. This stop will be moved higher as the market continues to confirm.
David Williams
Issued: 12/11/2014
March copper:
1. Yesterday’s (Wed., Dec. 10) March copper report indicated that copper would be in a ‘buy’ position for further advance and test/attempt at $294/$95 (or higher) later this week upon a daily close above $290.10. Yesterday’s daily close was $289.50, so no new entry occurred.
2. However, March copper advanced this morning and prompted today’s (Thurs., Dec. 11) update for aggressive only long entry at approximately $292.35.
3. March copper subsequently declined and triggered our $291.40 protective sell stop, resulting in a small loss on the entire position. Further entry remains possible in tomorrow’s (Fri., Dec. 12) session if the market reconfirms. Will update.
David Williams
Issued: 12/12/2014
March copper:
1. Our Wed. (Dec. 10) forecast for March copper indicated that a daily close above $290.10 could be bought for a test/attempt at $294/$95 (or higher) expected this week (week of Dec. 8).
2. Today, (Fri. Dec. 12) Dec. copper completed the $294/$95 upside target (session high, $294.05, so far). This was the intention of the original trade which was stopped out for a small loss. Will message any further entry or indication in March copper.
David Williams