What’s Up, What’s Down: Spotlight on Metals
u>Comments for September 6, 2011
Looking ahead to Tuesday by reflecting back on Friday’s trading
Futures and options trading is speculative in nature and involves substantial risk of loss. Futures and options trading is not suitable for all investors
PRECIOUS METALS POISED TO GO HIGHER??
FUTURES AND OPTIONS TRADING IS SPECULATIVE IN NATURE AND INVOLVES SUBSTANTIAL RISK OF LOSS. FUTURES AND OPTIONS TRADING IS NOT SUITABLE FOR ALL INVESTORS.
METALS: 9/6/11Higher for silver, gold and platinum while lower for copper. Copper settled lower again but with good support starting around 410 still needing to follow through with another close over 420 and preferably above 424. Also, the weekly chart shows copper basically trading between 400 and 450 since the end of last November. Silver, gold and platinum all had strong closes looking poised to move higher. Also, silver has been making higher highs and lows since the beginning of July. There is little support down to the 1600(Dec.) Meanwhile gold and platinum remain strong with gold having some support around180(Dec.). The same goes for platinum which is acting like its might test its highs. BUY SIGNALS FOR SILVER, GOLD AND PLATINUM. SELL SIGNAL FOR COPPER. CALL FOR DETAILS!
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 or call toll-free (888) 281-4158.
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.