Copper Futures---Copper futures in the September contract is currently trading lower by 210 points at 2.7140 as I'm now recommending a bullish position while then placing the stop loss under the contract low standing at 2.6000 as the risk on this trade is around $2,800 per contract plus slippage & commission.
If you take a look at the daily chart I believe a rounding bottom chart pattern has been formed as fundamentally and technically speaking this market looks bullish as the 10 year note is currently yielding 2.02% as that is a bullish fundamental factor towards copper prices.
At the present time I also have bullish recommendations in silver and palladium as I also think gold prices are going higher as I see no reason to be short the precious metals as I still think there is significant room to the upside.
Continue to play this higher while placing the proper stop loss while also risking only 2% of your account balance on any given trade as the proper money management technique.
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