pretty odd spike coming up on 24th dec
i feel this is a good entry point for a move up . hold it for a long term
any one knows the reason behind the move up?

Look for a Short covering buy opportunity on a break above the High (335.65) of 1/9.

Have a look at the recent cot report... you'll see that Traders are becomming pretty extreme about copper. I wouldn't say that the rally is over, but if Large Speculators keep on building up their net long positions / Commercials their net short (LS reach let's say net long 35.000 contracts), then the picture will become pretty bearish...

All the best,
Dunstan

Actually, now you should start selling copper, because there are strong concerns about Chinese economy growth during this year. And China is one of the biggest copper consumers in the world.