What’s Up, What’s Down: Spotlight on Metals
Comments for May 27, 2011
Looking ahead to Friday by reflecting back on Thursday’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 GOLD TEST ITS HIGHS?
METALS: 5/27/11: Higher for copper while lower for silver, gold and platinum. Copper has been consolidating in choppy action over the last couple of weeks while having good resistance over 420 all the way up to the 460 area. Still, a critical price to watch is 415 (July). Silver and gold settled lower with the former trying to bottom and 394.7 a key price to watch. Gold looks stronger overall at this time and acts like it will attempt to test its highs. Platinum settled lower with 180 (July) an important area to watch above and 175 below in my opinion. BUY SIGNAL FOR GOLD. SELL SIGNALS FOR COPPER AND SILVER. CALL FOR DETAILS!
The Memorial Day holiday trading hours schedule, including today’s (Friday) early closings, is posted at my website. Click or copy this link to your browser:
https://www.zaner.com/3.0/market_information/hot_topics.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.