Market Nuggets: Copper Could Rally In 2013 – Linn Group

Thursday January 10, 2013 12:35 PM

Copper is widely watched as a leading economic indicator and this year that role could be more telling, says Ira Epstein of the Ira Epstein division of the Linn Group. He says technical chart support for Comex copper at $3.50 a pound “is pretty solid” and if technical charts turn positive, “a challenge of $4 and possibly $4.50 is not out of the question. Users should move to extend coverage on weakness. Traders should look at $4 calls in the summer months, rolling forward if you need to in order to maintain the long position.”

By Debbie Carlson of Kitco News [email protected]