Market Overview

Scott Nations Is Bullish On Copper

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On CNBC's "Futures Outlook," Scott Nations revealed that he expects a tremendous rally in copper. He sees zero interest rates policy, China re-opening and supply disruptions in Chile as the reasons for a big move higher in the commodity.

He wants to follow the current trend and buy the September futures contract at $2.85. He wants to wait for a pullback from the current price, because he doesn't like to buy tops. Nations wants to place a stop loss at $2.80 and his target price is at $2.99.

Nations believe traders who are bullish on copper don't have to be bearish on gold because zero interest rates policy is going to help both gold and copper.

 

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Posted-In: CNBC Futures Outlook Scott NationFutures Commodities Markets Media