jackfutu18
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Back to metal market, there's just a short review for you guys. Let's see what Pitguru Daniel Cronin shares with us!
Precious metals finally got liquidated after the huge run they had with Gold trading below $1,500 and Silver falling to $36 from $48 an ounce just in four days alone. This market will likely have a dead cat bounce this week and I think one could see Gold trading back above $1500 and Silver above $39. This market is very volatile right now so options are the way to go in my opinion. Copper fell very hard from $4.20, below the support of $4.10 to $3.92. I believe this too will see a pop back above $4.00 and there looks to be some resistance at $4.05/$4.06 now.
For more information around futures markets, just spend time with other futures market reviews for help!
The Metals Review
For the week of May 9th, 2011
For the week of May 9th, 2011
Precious metals finally got liquidated after the huge run they had with Gold trading below $1,500 and Silver falling to $36 from $48 an ounce just in four days alone. This market will likely have a dead cat bounce this week and I think one could see Gold trading back above $1500 and Silver above $39. This market is very volatile right now so options are the way to go in my opinion. Copper fell very hard from $4.20, below the support of $4.10 to $3.92. I believe this too will see a pop back above $4.00 and there looks to be some resistance at $4.05/$4.06 now.
For more information around futures markets, just spend time with other futures market reviews for help!