What’s Up, What’s Down: Gold, Silver Climbing Higher

Comments for Friday, August 14, 2009

Looking Ahead to Today By Reflecting Back at Thursday’s Price Action


Higher closes on Thursday for copper, gold, silver and platinum. All of the metals continue to be in uptrends now acting they are going to take out their recent highs. Also copper and silver made new recent highs and closes.

Silver Chart


The eurodollar, bonds and notes settled higher with the eurodollar making a new contact high and close while the bonds and notes made new recent highs with the latter breaking out of their DOWN CHANNEL to the upside. Now the bonds and notes are forming potential bottoms.

10-Year T-Note Chart

See the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. 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. If you would like a free booklet explaining the charts mentioned above, email Rick at ralexander@zaner.com.