Scott Nations: Watch For Bullish Copper Data In The Week Ahead

Scott Nations spoke on CNBC's "Futures Outlook" about a bullish futures trade in copper. He said copper is going to get market moving data next week as we are expecting copper-related reports on Tuesday, Wednesday and Thursday.

Nations thinks copper fundamentals have been very strong as China is buying a lot of copper as it can, and the strong U.S. housing market is also a tailwind for the metal. Nations wants to buy the March future contract on a pullback, at $3.40. His target price would be at $3.65 and his stop loss would be at $3.25. He is hoping to make $6,250, while he wants to limit his loss to $3,750.