What’s Up, What’s Down: Spotlight on Metals
Comments for Monday, March 22, 2010
Looking Ahead to Today by Reflecting Back at Friday’s Price Action
METALS:
Lower for copper, for gold, silver and platinum. All of the metals continue to be in uptrends overall with platinum still leading the way. Copper settled lower again continuing to struggle in its attempt to get through its resistance area. Gold has really been going sideways since the middle of last December now forcing me back to a neutral position at this time. It’s never able to close over 1150 basis the April contract which would have confirmed my buy signal. On the other hand silver’s poor close is now settling up for a possible sell signal. Platinum was hurt by Friday’s close but still looks strong overall. BUY SIGNALS FOR COPPER GOLD, SILVER AND PLATINUM. CALL FOR DETAILS!
Read the balance of my morning comments, including the Metals, Softs, Energies and Grains, at my website. For my complete coverage, visit my commentary page at www.markethead.com.
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. If you would like a free booklet explaining the charts mentioned above, email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.