I honestly don’t know where the markets are heading next. I cannot predict where and when the top and bottom shall take place. But I learnt it hard way, what I should do "stay" or "quit" when price is traveling beyond my reference levels.

Wednesday, June 8, 2011

Crude Oil and Copper trades

Crude has given a sell at 4565 on 01st June. Since then it was trading weak.Trend remains weak.

Copper has given a sell at 413 on 01st June. It went down up to 401.80 on 02nd June and 402.85 again on 03rd June.But not booked the profits. Greedy!! Partly yes and partly no.. Reason to no is, first of all no BUY signal from system.. And , it was consolidating quite well in the range of 413-418 and again now at 407-411.. Actually, i swallowed a whipsaw last week with some loss..So, obvious trending movement is around the corner and want to hold the position with whatever signals am getting from the system..

Crude SL is placed at 4450. Will switch to buy there.
Copper SL is placed at 414. Will switch to buy there.
Posted by at 11:31 AM
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