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Keep A Close Eye On Copper Prices


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Copper Futures---Copper futures in the December contract are trading lower for the 3rd consecutive day blamed on profit-taking after the recent run-up in prices as I remain bullish & I do think higher prices are ahead, however I'm not involved, but I'm certainly not recommending any type of short position.

If you are long a futures contract place the stop loss as an exit strategy below the 10 day low standing at 3.0120 which is quite a distance away, but that will start to improve on a daily basis next week therefore lowering the monetary risk as the chart structure will start to improve which is the basis of my trading strategy.

Copper prices are trading far above their 20 & 100 day moving average as this trend is very strong as the housing market in the U.S has caught fire due to the fact that we are also rebuilding massive communities in the southern part of the United States & Puerto Rico as I still see higher prices so continue to play this to the upside while taking advantage of any price retracement to enter into a new position as this is one of the strongest trends in 2017.

Copper prices are also riding the coattails of the stock market which I'm very bullish and if you take a look at the lumber chart that's also at contract highs as these markets have very strong physical demand at the present time as I don't think that will stop anytime soon.TREND: HIGHER---CHART STRUCTURE: POOR

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

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.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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