What’s Up, What’s Down: Outlook on Copper and Platinum
Comments for Thursday, July 29, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
METALS:
Higher closes Wednesday for copper, gold and platinum. Copper settled higher breaking out of a small bull pennant showing little resistance up to the 34000 area. Gold closed higher lower due to, in my opinion, a lower stock market. Silver has been trading basically sideways since the beginning of April but now is at the lower end of that range and very close to a sell signal. Platinum settled slightly higher and can be purchased on setbacks but needs a close over 16000 to confirm its turnaround. BUY SIGNAL FOR COPPER AND PLATINUM. CALL FOR DETAILS!
There has been a lot of talk and advertising for Gold exchange traded funds (ETFs). Do you understand the difference, from a trader’s point of view, between gold futures and gold ETFs? Download my comparative evaluation report at https://www.zaner.com/3.0/ralexGold.asp.
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.