Bill Baruch's Copper Trade

On CNBC's "Futures Outlook," Bill Baruch said copper is going to be heading a lot higher in 2021.

He doesn't like to chase the market, but he is bullish because he thinks the Fed is going to remain accommodative and the vaccine is going to bring tailwind to risk assets. This will lead to inflation and the U.S. dollar is going to stay at this level or trade lower, believes Baruch.

He wants to buy the March 2021 futures contract at $3.05. His target price is at $3.30 and he is going to place a stop loss at $2.95.