What’s Up, What’s Down: Spotlight on Gold, Silver and Copper

Comments for April 5, 2011

Looking Ahead to Today by Reflecting Back at Monday’s Price Action


Higher silver, gold and platinum while lower for copper. Copper so far has held its support around 420 basis the May contract while making lower lows and highs since the middle of February and closing lower for six out of the last seven trading days but looking like its forming a major top. Silver made another new CONTRACT HIGH AND CLOSE while gold is ‘banging on the door’. A close over 1440 basis the June contract would be impressive for gold. Platinum settled higher with its since around March 1oth but still a sell in my with good resistance over 180(July). BUY SIGNALS FOR GOLD AND SILVER. SELL SIGNALS FOR COPPER AND PLATINUM.

Copper Chart

Silver Chart

Gold Gas Chart

But in early morning trading, the Metals is slightly weaker, overall. My Futures HeatMap, a color-coded view of the eight futures market sectors, shows that Metals, as of 8:30 am Central this morning (April 5), is down a composite 0.22%,. Only palladium and platinum are higher for the day. To view the Heat Map, click, or type this link into your browser: https://www.markethead.com/2.0

Day-Trader or PositionTrader – do you know what is required in order to open a futures tradingaccount? Find out by downloading my special report, “Opening a Futures Account” available at https://www.zaner.com/3.0/ljsAcctOpen.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 substantial risk of loss.  Futures and options trading is not suitable for all investors. The information in this Report and the opinions expressed are subject to change without notice. All known news and events have already been factored into the price of the underlying commodities discussed.