FxWirePro Call Review: Maintain short positions in Copper; interim targets added and profit booking plan revised

Early February, we warned our readers that copper could suffer a further decline as it declined steadily in five out of the six weeks since reaching $3.32 area in December. We warned that the next move downwards could come as a sharp selloff after the next bounce. Here is the link to the article, https://www.econotimes.com/FxWirePro-Copper-might-face-sharp-selloff-after-next-bounce-to-reach-278-per-pound-1140489

Since then, the copper has bounced back as anticipated to reach as high as $3.27 per pound before declining again. In a subsequent call review, earlier this month, we urged our readers to go short in the Copper at the then current rate of $3.177 per pound with stop loss around $3.32 per pound and target of $2.78 per pound and advised to book 50 percent profit at the interim target around $2.88 per pound. Here is the link, https://www.econotimes.com/FxWirePro-Call-Review-Sell-Copper-targeting-278-per-pound-1160929

Since then the price has declined further and is currently trading at $3.138 per pound. In this piece, we would like to add some interim targets with profit booking suggestions,

Target 1 - $3.10/pound: Book 5 percent of original positions

Target 2 - $2.93/pound: Book 25 percent of original positions

Target 3 - $2.89/pound: Book 10 percent of original positions

Target 4 - $2.88/pound: Book 10 percent of original positions

Final Target - $2.78/pound: Book 40 percent of original potions

Book rest 10 percent at discretion