What’s Up, What’s Down: Spotlight on Metals
Comments for February 24, 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
GOLD AGAIN FLIRTS WITH PREVIOUS RECORD HIGHS
METALS: 2/24/11: Higher for silver and gold while lower for copper and platinum. Copper closed lower for the sixth trading session in a row making its worst low and close now close to a sell signal while needing to hold the 42500 area basis the May contract. Silver made a new CONTRACT HIGH CLOSE helped along by the trouble in the middle east. Gold had its best close since January 3rd now very close to a breakout and a buy signal although not far from its contract highs anyway. Platinum continues to fall with its worst low since January 11th also close to a sell signal. There is good support for platinum around 1750 (April). BUY SIGNALS FOR SILVER AND PLATINUM. CALL FOR DETAILS!
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.