What’s Up, What’s Down: Spotlight on Metals
Comments for November 3, 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
COPPER APPEARS TO BE TRADING MORE VIOLENTLY THAN USUAL
METALS: 11/3/11: Higher closes for copper, silver, gold and platinum. Copper certainly has been trading more violently than normal lately but that we still can’t discount the fact that there little resistance up to 400(Dec), in my opinion, and I have a buy signal! Silver and gold also closed higher with the latter continuing to look the best of the metal complex while the 30 dollar area for silver is extremely critical to hold while also having good resistance above 350 basis the December contract. Platinum also settled higher with a similar pattern as the silver and gold. BUY SIGNALS FOR COPPER, SILVER, GOLD AND PLATINUM. 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 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.