What’s Up, What’s Down: Spotlight on Metal Futures

Comments for Thursday, July 22, 2010

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


Higher closes Wednesday for copper, platinum, silver and gold again. Copper is still in a down-trend overall but broke out of a weekly bear flag indicating a possible turnaround eliminating my sell signal and also taking out the key price of 31230 basis the September contract. Gold and silver settled higher but both have been acting heavy (toppy) trending lower lately although not quite giving me sell signals. Platinum closed higher again and could now be in a BEAR TRIANGLE or a potential bottoming formation. Either way the overall trend is still down but key prices to watch are 15410 and 14890 basis the October contract. SELL SIGNAL FOR PLATINUM. CALL FOR DETAILS!

Copper Chart

Gold Chart

Silver Chart

Platinum Chart


Higher closes yesterday for the Eurodollars, notes and bonds. All of the financials are still in uptrends with the Eurodollar making its best high and close since April 14th again while the notes and bonds made new CONTRACT HIGHS AND CLOSES. BUY SIGNALS FOR THE EURODOLLARS, NOTES AND BONDS. 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.

With 82% winning ETF trades in the model portfolio from October 2008 through March 2010 – you too can realize this level of success with Larry Connors’ Daily Battle Plan.