SCCO Play on Rising Copper Price

Discussion in 'Stocks' started by Stock Trader Lance J, Jul 18, 2017.

  1. The price of copper has been rising over the last year as the global economy slowly strengthens.

    A pure way to play copper is in Southern Copper SCCO.


    I really don't like chasing stocks. My new year's resolution last year was to not chase any stock for the next year. My trading has really improved as a result.

    The time to enter was on the pocket pivot (blue dot) signal back in early July. I think a better entry is off of support, if previous resistance turns into support.


    I don't see any need to rush this trade, especially if China cracks down on debt and speculation in riskier assets. If China's economy slows as a result of the government pushing to get a handle on debt, the demand for copper could drop.
  2. dealmaker