Copper Pulls Back
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
market’s opening. Therefore, overnight events may alter the
outcome of these observations.
The dollar has pulled back from lows and looks poised to
resume its breakdown. Look for buying opportunities in inverse currencies, such
as the March Swiss Franc
(
SFH1 |
Quote |
Chart |
News |
PowerRating).
March
copper
(
HGH1 |
Quote |
Chart |
News |
PowerRating), which has been in a sharp rally, has begun to pull
back. Look for a buying opportunity here.
face=”Arial, Helvetica”>
January unleaded gas
(
HUF1 |
Quote |
Chart |
News |
PowerRating) looks poised to resume its meltdown out of a
pullback from lows formation. Look for a shorting opportunity here.
Looking Ahead
The meats, mentioned recently,
remain strong and still may setup as pullbacks over the next few days.
Best of luck with
your trading on Thursday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!