faylee
Long

Copper Good opportunity

COMEX:HG1!   Copper Futures
767 14 36
It seems that Copper             just retracement was ended at fibo 1.618 level.
Meanwhile, there's an intensive buying area from late Aug to mid Sep., strong support here.
So just go long in buying zone.
Comment: Nice break out of the weekly chart!
snapshot


China is likely to squeeze real estate bubble gradually, they want a soft landing. After G20,centre banks reached a consensus, cutting rate or direct QE won't be an effective method in the coming year. It isn't lack of money, but circulation. Hot money is flowing into commodity market and stock market. Meantime the CNY is depreciating step by step. Commodity price will rise.
Next week,let's see the bullish Dr.Copper!
Comment: longer term target:2.7
snapshot
Comment: 1st target:$2.7 hit, i pocketed the profit at $2.68, and will waiting for retracement.
Comment: My earlier trading stretagies for Copper:

1.

2.

3.
I went short monday
Reply
Thank you Faylee. Good, you have different strategies. I suppose the first one is right, towards "E".
Reply
faylee stivmerc
@stivmerc, These are copper strategies in the past
Reply
stivmerc faylee
oops @faylee! So simply, thank you :-)
Reply
Brilliant
Reply
Faylee, thank you! How do you think about oil now?
Reply
very goood! :-)
Reply
now Mr Copper is already at 2.644 ...
Reply
thank you
Reply
Great!
+1 Reply
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