jackfutu18
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Welcome to metal market again! Pitguru Daniel Cronin will bring you some new information for your trading around metal and futures market.
Precious metals again outdoing the rest of the field, scorching everyone in their path as Gold hits the $1,500 number. This market is already up another $17 to start the week at $1,517. Silver is even hotter as this market has risen from $40 to $49 where it is today in a matter of days as many shorts got burnt to a crisp and had to liquidate massive positions last week. With the rally in the Euro/USD it looks as if these metals will continue to head higher. I feel Silver will no doubt break $50 which could easily happen in the early part of the week and Gold $1,525. I see no chance of stopping these metals anytime soon from higher highs right now.
Copper again bouncing up from $4.20 to $4.40 where it sits right now. I am watching for a trade above $4.50 as I feel May copper is vulnerable up there and has been sold each of the last 3 times up that way.
The Metals Review
For the week of April 25th, 2011
For the week of April 25th, 2011
Precious metals again outdoing the rest of the field, scorching everyone in their path as Gold hits the $1,500 number. This market is already up another $17 to start the week at $1,517. Silver is even hotter as this market has risen from $40 to $49 where it is today in a matter of days as many shorts got burnt to a crisp and had to liquidate massive positions last week. With the rally in the Euro/USD it looks as if these metals will continue to head higher. I feel Silver will no doubt break $50 which could easily happen in the early part of the week and Gold $1,525. I see no chance of stopping these metals anytime soon from higher highs right now.
Copper again bouncing up from $4.20 to $4.40 where it sits right now. I am watching for a trade above $4.50 as I feel May copper is vulnerable up there and has been sold each of the last 3 times up that way.