Copper Trade Recommendation, June 30th | Hacked: Hacking Finance
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Copper Trade Recommendation, June 30th

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Copper Trade Recommendation, June 30th

Introduction

This article was posted on Friday, 16:56, UTC.

Copper: Long-Term Short

Copper Futures, Daily Chart Analysis

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“Dr. Copper” as a lot of investors are calling the commodity because of its close correlation with the global economy, enjoyed a bounce in recent weeks, as the Chinese stock market stabilized, the Dollar took another nosedive, and stock markets remained near their all-time highs. The rally now reached a strong resistance zone near the $2.70 level, and odds favor a downturn, as US economic numbers are weak, stock markets are in the danger zone for a deeper correction, and the Dollar is also looking ready for a bounce.

We expect the commodity to head back towards the $2.50 support as the range that dominated trading since the end of the monster Trump-Rally is likely to stay intact in the coming weeks. We suggest a stop-loss above the $2.75 level, while a good initial target for the move could be around $2.52.

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Feedback or Requests?

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

Comments
  • user

    AUTHOR TinyAudio

    Posted on 1:49 pm July 11, 2017.

    I am one week into my first month of subscription and I opened this trade based on the recommendation.

    I opened several individual trades and banked my first $100 so subscription paid for itself.

    I do not want to gush yet about how great this site is (just yet) but really enjoying the great content.

  • user

    AUTHOR Dji127

    Posted on 8:42 am July 19, 2017.

    Given the recent move up towards the 2.73 area, would you expect price to move upwards past the 2.75 – 2.8 areas to collect some stops before heading down again towards our target? Could moving the stop loss upwards be a good idea in this instance or would you advise against it?

    Thanks

  • user

    AUTHOR flogy4031

    Posted on 5:05 pm July 24, 2017.

    well? any updates? keep shorting or cut losses?

  • user

    AUTHOR Mate Cser

    Posted on 5:45 pm July 24, 2017.

    Hi Flogy, I strongly think that copper will head lower mid-term, but the short-term trend is up. If you are holding it, 2.765 is a good stop loss. I am still holding the short. The current range is also good for new positions.

  • user

    AUTHOR Dji127

    Posted on 12:23 pm July 31, 2017.

    Copper has had a big move up in the last couple of days. Could this area be a good spot to consider another short position or has sentiment changed? Are you still bearish Mate Cser?

  • View Comments (6) ...
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