What’s Up, What’s Down: Spotlight on Metals
Comments for August 18, 2011
Looking ahead to Thursday by reflecting back on Wednesday’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
SPOTLIGHT ON METALS
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: 8/18/11 Higher closes for silver, gold and platinum while lower for copper again. Copper has strong resistance up to the 420 area basis and should continue to work lower overall but has been in very choppy consolidation action over the last one and one-half weeks. Silver (4th higher close in a row) and gold settled higher again but the former still has some good resistance to get through if it’s going to recapture most of its momentum while lagging behind gold overall. On the other side of the coin silver has been gradually moving higher since its sharp retracement back at the beginning of May. Gold continues to hold up well with only minor retracements so far while making a new CONTRACT HIGH CLOSE again.. Platinum settled higher for its eighth session in a row now with the 185 basis the October contract critical. BUY SIGNALS FOR SILVER, GOLD AND PLATINUM. SELL SIGNALS FOR COPPER. CALL FOR DETAILS!
A good plan is like a roadmap; it shows the final destination and usually the best way to get there” (H. Stanley Judd). Traders need a trading plan too. Download my TRADING PLAN TEMPLATE by clicking this link or copying and pasting it into your browser:
https://www.zaner.com/3.0/ljstradingplantemplate.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 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.