What’s Up, What’s Down: Spotlight on Metals
Comments for April 26, 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.
COPPER LOOKS CHOPPY; IS SILVER NEARING A TOP??
METALS: 4/26/11: Higher closes yesterday for silver, gold and platinum while lower for copper. Copper continues to trade in very choppy action overall between 420 450 since the beginning of March forcing me to stand on the sidelines for now. Silver and gold both made NEW CONTRACT HIGHS once again but with the former having a huge range and looking like BLOW OFF ACTION. Of course, that remains to be seen. Platinum had another strong close but still in a wide resistance area. BUY SIGNALS FOR SILVER, GOLD AND PLATINUM. CALL FOR DETAILS!
In early morning trading, my Futures HeatMap shows the Metals sector down a composite 0.82%, weakened by a large drop this morning in Silver. View the color-coded HeatMap at https://www.markethead.com/2.0.
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.