Time To Exit Copper

Copper Futures-Copper futures in the December contract is trading lower for the 3rd consecutive session as the entire precious metal sector is on the defensive as prices are lower by 125 points at 2.6515 a pound. I have been recommending a bullish position from around the 2.6440 level as it is time to exit as this trade doesn't look to go anywhere so move on & let's look at other trends that are beginning.

Copper prices are trading right at their 20 and 100 day moving average as the trend is now mixed as this activity is a little perplexing as the U.S stock market hit another all-time high today, but has not lent support for copper prices as I don't want to be involved any longer.

At the current time I have no precious metal recommendations as I will sit on the sidelines and wait for the chart structure to improve as the risk/reward is not your favor to take a position in either direction so sit on the sidelines.

TREND: MIXED

CHART STRUCTURE: SOLID

VOLATILITY: AVERAGE

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