Copper Prices Look Like A Sell

02 Nov in Blog, commodity consulting, commodity trading, copper futures, futures broker, gold futures, Michael Seery, options broker, palladium futures, platinum futures, Seery, silver futures

Copper Futures---Copper futures in the December contract currently are unchanged around 2.3160 a pound as I’m now recommending a short position in the mini contract while placing your stop loss above the 10 day high which currently stands at 2.42 risking around $1,300 plus slippage and commission as the chart structure will start to improve later in the week therefore lowering monetary risk.

Copper prices are trading below their 20 and 100 day moving average telling you that the trend is to the downside as I have not talked about copper for quite some time, but the long term downtrend line stays intact so play this to the downside in my opinion.

The reason for the copper decline in 2015 is the fact that China continues to state that there’s little demand for commodity prices and especially copper as they are the world’s largest importer, but at this point it doesn’t look like demand will remain strong at all as the next major level of support is the contract low and also the double bottom at the 2.25 price level and if that level is broken we could be testing 2.00 in the next month or so as I remain bearish.

I will be hosting a live trading webinar 1 hour 1 night a week for 3 weeks starting on Tuesday December 1st --The Program will teach you how to:

• Quickly Determine Market Direction

• Locate Key Areas to Enter Trades

• Read Price Action Like Being in the Trading Pit

• Find Major Market Turning Points If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 he will be more than happy to help you with your trading or visit Skype Address: mike.seery3 TWITTER---@seeryfutures


If you’re looking to open a Trading Account click on this link

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.

Home  | Privacy Notice | Risk Disclosure | Contact Us

Trading Futures and Options on Futures transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Past performance is not necessarily indicative of future results.

Trading results obtained by a client while trading a demo account may not be indicative of the results obtained
when trading a live account due to the fact that trades are not sent to a regulated exchange but they are sent
to a simulated off-exchange server.

© 2017. Seery Futures. All Rights Reserved.