What’s Up, What’s Down: Spotlight on Metals
Comments for August 11, 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.
WILL A CORRECTION COME TO THE METALS MARKETS??
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: 8/11/11 Higher closes yesterday for silver, gold and platinum while lower for. Copper made its lowest close since November 30th, 2010. Also there is strong resistance up to the 420 area basis the September contract but, on the other hand, copper did go through this previous support areas like a ‘knife through butter’. Silver settled higher this time continuing its choppy action but still a buy although losing steam and lagging further and further behind gold. There is good support below for silver which has been in a wide trading range going back to May. Gold made another new CONTRACT HIGH AND CLOSE which lately seems to be the norm. When, and I mean when, there’s a correction it could be swift and deadly but, like everyone else, I don’t know when it will happen unless I see some technical changes that I can read correctly. Platinum settled higher for its third session in a row but continuing to look weak overall with lower highs since last May. BUY SIGNALS FOR SILVER AND GOLD. SELL SIGNALS FOR COPPER AND PLATINUM. 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.