What’s Up, What’s Down: Gold Continues to Lead the Way
Comments for Thursday, June 17, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
METALS:
Lower closes yesterday for copper, platinum, silver and gold. Copper made its
highest high in nine trading days and then closed lower in reversal type
action. Now the retracement higher could be over and copper resumes its
overall downtrend. However, we’ll just have to see. Gold and silver
both settled lower but no changes technically for either one one of them. Gold
continues to lead the way while silver has been in a choppy market over the
last few weeks mainly do to gold/silver spreading. Platinum made its highest
high in a month and also settled lower in reversal type action possibly
meaning its retracement rally is also over. BUY SIGNALS FOR GOLD AND SILVER.
SELL SIGNALS FOR COPPER AND PLATINUM. CALL FOR DETAILS!
For my complete coverage, visit my commentary page at www.markethead.com.
Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.