Copper Day trading Strategies - Generatebucks.com


Copper has been trading sideways for a while now and yesterday November Copper futures closed around 452 on MCX.

Trade war concerns between US and China are still holding trust of buyers in the market and looking at tensions between US and Saudi, most commodity investors are looking to invest in Gold.

Despite supply concerns we saw copper slipping and copper future market closing in red. We saw Shanghai copper extended losses for a second day on Wednesday, curbed by tepid spot trading. Read here

Most Chinese exporters are confident they can weather trade war with United States but a worry/tensions in air exist in the market. 

 Most emerging currencies were seen falling and touching new lows in previous few weeks.

Looking at Indian Rupee vs Dollar, we saw dollar index gaining stability and trading in the range while Indian Rupee was seen breaking lows and was seen trading at 74.40 a few weeks ago.

After gaining momentum last week, we saw Rupee falling this week and trading at 73.80. Traders believe that Rupee has gain stability and might recover from 74.20.

Indian commodity market in gaining momentum due to decline in Rupee. Looking at copper futures, we have seen a mixed trend and I expect sideways movement today.

When it comes to copper, I would advise to be on selling side if you want to play safe in the market. Market will be quite volatile but I can expect sideways trend.

Copper day trading strategies – Sell Copper futures at 452.50 with target of 449 and SL of 453. I would recommend a short trade to make quick profits

For positional traders, it is time to go short and add on every high. I would advise a short position at 455-460 for short term target of 449 and SL of 463.

Zinc Futures

Zinc has been trading in red for quite some time. We saw a little upside movement but was limited. Traders expect little downside in Zinc since prices are supported due to supply concerns. Demand of Zinc and Nickel are expected to increase so this could be a good time to invest in Zinc for long term investors.Read here

I would expected a sideways trade in Zinc and would advise to enter the market at 195 for a quick trade. Sell Zinc for 195 with target of 193.50 and SL of 196.50. This would be a high risk call and would recommend to follow strict SL.

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