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Copper's Sweet Spot?

By  |  Commodities  |  Jul 22, 2014 03:23PM GMT  |   Add a Comment
www.investing.com/analysis/copper's-sweet-spot-220257
Copper's Sweet Spot?
By   |  Jul 22, 2014 03:23PM GMT
 

Copper is testing important support/resistance near the $3.20 level:

Copper
Copper

And there is ample reason to believe that this could be an attractive long entry point as we move deeper into the back half of the year:

Morgan Stanley's Take
Morgan Stanley's Take
With commercial inventory at a 2-year low and declining amid a strong pick up in demand, the 2nd half of 2014 appears to be bright for copper - Source: Morgan Stanley

While speculating in copper futures or even the copper exchange traded fund (iPath DJ-UBS Copper Subindex TR (NYSE:JJC)) may not be for everyone, shares of Freeport-McMoran Copper & Gold Inc. (NYSE:FCX) also offer an excellent way to play any upside in copper:

Freeport-McMoran Copper & Gold
Freeport-McMoran Copper & Gold

 Bull flag with excellent potential for a highly significant breakout above the $39 level.

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