What’s Up, What’s Down: Spotlight on Metals
Comments for August 23, 2011
Looking ahead to Tuesday by reflecting back on Monday’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
GOLD SETTLED HIGH FOR 6TH SESSION IN A ROW
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: 8/23/11 Higher closes yesterday for silver, gold and platinum while lower for copper. Copper has strong resistance up to the 420 area basis and should continue to work lower overall but continues to be in very choppy consolidation over the last two weeks the only metal that looks bearish at this time. In my opinion it should break out of this consolidation action to the downside but we’ll just have to see. It might be a good idea for those of you who have good profits to place a stop above this area. Please call me if you need any help. Silver has had higher lows for nine consecutive trading sessions and eight higher closes culminating in its best high and close since May 2nd. Gold settled higher for its sixth session in a row making a new CONTRACT HIGH AND CLOSE. Platinum has settled higher eleven sessions in a row and also made a new CONTRACT HIGH AND CLOSE! BUY SIGNALS FOR SILVER, GOLD AND PLATINUM. SELL SIGNAL FOR COPPER. CALL FOR DETAILS!
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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 email@example.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.