{"id":11800,"date":"2018-10-29T07:30:11","date_gmt":"2018-10-29T11:30:11","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=11800"},"modified":"2018-10-29T07:30:11","modified_gmt":"2018-10-29T11:30:11","slug":"a-bullish-trade-for-the-next-two-weeks","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/a-bullish-trade-for-the-next-two-weeks\/","title":{"rendered":"A Bullish Trade for the Next Two Weeks"},"content":{"rendered":"<p>The price of copper looks poised to make a big move, soon. And, I&rsquo;ll bet that move is to the upside.<\/p>\n<p>Take a look at this chart&hellip;<\/p>\n<p align=\"center\"><img decoding=\"async\" alt=\"\" src=\"https:\/\/jc-stable.s3.amazonaws.com\/ee-assets\/channels\/articles\/mm\/201810-mm\/20181029-MM-01.png\" width=\"700\" style=\"width:100%; max-width:700px; margin: 0 auto;\"\/><\/p>\n<p>The price of copper peaked at $3.30 per pound back in early June. Then, the market got spooked over trade-war tensions and a possible supply glut caused by slowing demand from China.<\/p>\n<p>Copper crumbled all the way down to $2.55 per pound in August. That&rsquo;s a 23% drop in just two months.<\/p>\n<p>Since then, though, the price of copper has been slowly, quietly moving higher. The chart now looks to me like it&rsquo;s setting up for a bullish move. And, I really like the coiling action in the various moving averages.<\/p>\n<p>Copper broke above its 50-day <a href=\"https:\/\/www.jeffclarktrader.com\/glossary\/#movingaverage\" target=\"_blank\" rel=\"noopener noreferrer\">moving average<\/a> in late-September, thereby starting what I think will prove to be an intermediate-term uptrend. Both the 9- and 20-day <a href=\"https:\/\/www.jeffclarktrader.com\/glossary\/#ema\" target=\"_blank\" rel=\"noopener noreferrer\">EMA<\/a> have rallied above the 50-day MA as well. So, the moving averages are stacked in a bullish configuration.<\/p>\n<p>The price of copper has been slowly drifting lower since the breakout. Copper is now trading just slightly above its 50-day MA. All the moving averages are coming together and building energy for the next move. And most of the technical indicators have drifted back to neutral territory. So, I like this setup for a sharp pop higher in the price of copper over the next week or two.<\/p>\n<p>It may or may not play out this way, of course. But, the setup looks bullish to me.<\/p>\n<p>Investor sentiment towards copper also seems to have soured enough to be a good contrary indicator. Most analysts are bearish on the price trend in copper. And the handful of trader friends I&rsquo;ve mentioned this to seem ambivalent at best towards the idea of buying copper.<\/p>\n<p>So, I like my odds on this bet. And, if it&rsquo;s going to play out bullishly, then copper should start a new move higher within the next two weeks.<\/p>\n<p style=\"-ms-text-size-adjust: none; -webkit-text-size-adjust: none; margin-bottom: 20px; margin-top: 0px\">Best regards and good trading,<\/p>\n<p style=\"-ms-text-size-adjust: none; -webkit-text-size-adjust: none; margin-bottom: 20px; margin-top: 0px\"><img decoding=\"async\" src=\"https:\/\/casey-assets.s3.amazonaws.com\/images\/misc\/jeff-clark-signature.png\" width=\"200\" style=\"max-width:200px; width:100%;\" \/><\/p>\n<p style=\"-ms-text-size-adjust: none; -webkit-text-size-adjust: none; margin-bottom: 20px; margin-top: 0px\">Jeff Clark<\/p>\n<h2 align=\"center\"><strong>Reader Mailbag<\/strong><\/h2>\n<p>Do you see copper popping higher in the short term? What other sectors and commodities are you focusing on?<\/p>\n<p>As always, send your trading stories, questions, and suggestions to <a href=\"mailto:feedback@jeffclarktrader.com\">feedback@jeffclarktrader.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Make this trade today, and the next two weeks should be bullish&#8230;<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[7],"newsletter-type":[],"ticker":[],"class_list":["post-11800","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-jeff-clark"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/11800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=11800"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/11800\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=11800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=11800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=11800"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=11800"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=11800"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=11800"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=11800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}