What’s Up, What’s Down: Spotlight on Metals’ Mixed Signals
Comments for Thursday, March 25, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
METALS:
Lower closes yesterday for copper, gold, silver and platinum. Copper is still in a BULL TRIANGLE unable so far to get through a good resistance area. My stance on gold and silver has now changed to down-trends for both. Also gold and silver have been making lower highs and lows since their highs last December. Gold has been moving basically sideways since last January in the short term. Finally, I now have a SELL SIGNAL for gold but just missed one in silver but am removing my buy for silver. Platinum was hurt by Tuesday’s close and is now forming a possible top. BUY SIGNALS FOR COPPER AND PLATINUM. SELL SIGNAL FOR GOLD. 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.