Copper Prices Close On Session Lows

Copper Prices Close On Session Lows
Copper Prices Close On Session Lows

Copper Futures—Copper futures in the July contract are down 285 points at 2.8010 a pound after witnessing an extremely wild trading session yesterday rallying about 1000 points from session lows, however lower prices have come back into today’s action.

Copper prices are trading under their 20 & 100 day moving average as the trend is to the downside as prices are still hovering right near a 10 week low as I’ve been recommending a bearish position from around the 2.8240 level and if you took that trade the stop loss now stands at 2.9240 as an exit strategy. For the bearish momentum to continue we have to break yesterday’s low of 2.7415 in my opinion as the commodity markets remain bearish as a China trade agreement looks to have paused.

The chart structure will not improve for another 6 trading sessions so you will have to accept the monetary risk at this time. Volatility in copper at the present time is high as I don’t see that situation changing anytime soon as we are now starting to experience volatility in the stock market.

If you are involved make sure you have the proper amount of contracts while risking 2% of your account balance on any given trade and remember the copper market offers a mini contract as well which is half the size and half the risk.

TREND: LOWER

CHART STRUCTURE: SOLID

VOLATILITY: HIGH

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

 

Skype Address: 5da1f85979b7117b

TWITTER—@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com

 

MEMBERS LOGIN

Click on Members Login—-Username—coffeeshop

Password—greencoffee88

Click login and then click on Blog and click on the title of the story to read—Mike 630-408-3325

Click on my live chat so we can talk as well

 

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.