Copper's Sweet Spot?
Tommy Humphreys | Jul 22, 2014 11:23AM ET
Copper is testing important support/resistance near the $3.20 level:
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:
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:
Bull flag with excellent potential for a highly significant breakout above the $39 level.
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