Copper Weekly Outlook

Copper Weekly Outlook



Jack Gleason founder of Major League reviews his trade plan for the copper market this week identifying trading levels that he will be watching for possible trading opportunities and covering upcoming news that could potentially impact markets.

Copper futures have posted steady gains since the 5% correction on December 5th. There are rumors of massive speculation going on in the copper futures contract (HG). This long speculation is confirmed from an article on zerohedge saying that "Two firms held 40 to 49 percent of copper inventories and short-dated positions, according to Jan. 19 exchange data that shows holdings as a proportion of available stockpiles. While the LME provides data on the approximate size of large positions, it doesn’t disclose who is behind them."

Knowing all this information I am looking for HG to potentially continue its climb higher for the week of December 18th. But forget what I say, just look at that chart, its up 9 days straight. 


Economic Calendar for the News of the Week


MonDec 18  7:30pm AUD
Monetary Policy Meeting Minutes
TueDec 19 8:30am USD
Building Permits
WedDec 20 8:15am GBP
BOE Gov Carney Speaks
  10:30am USD
Crude Oil Inventories
  Tentative JPY
Monetary Policy Statement
ThuDec 21 1:30am JPY
BOJ Press Conference
  8:30am CAD
CPI m/m
Core Retail Sales m/m
Final GDP q/q
FriDec 22 4:30am GBP
Current Account
  8:30am CAD
GDP m/m
Core Durable Goods Orders m/m

Source: Forex Factory



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