jackfutu18
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Pitguru Daniel Cronin has been back the metal market this week to analyze the market for us. Take note the news for your trading week!
Precious metals had a mixed week last week trying to trade to new heights. The gold market hit at $1,449 before losing its footing and sliding back to $1,415 only to rally back up to $1,440 where the price sits right now. The way I see it, dips can be bought in this market as the chart looks like it might realize higher highs and higher low. To me silver is the strongest of the metals and is actually making new highs here breaking through $38 as this price has been on fire since last year, rallying more than 100%. I think all metals will continue to rally as the USD gets weaker against other major currencies as the Euro/USD has flown by $1.42 and is on its way to the $1.43 handle. Look for Gold to make new highs again this week. Copper is still under the liquidation mode and even though the equity markets have rallied Copper has still fallen below $4.25. I like this base metal below $4.20 as a buy with great support at $4.10.
It'll be useful to learn how other interactive market working, as usual just check out other futures market reviews to get more information supporting your business!
The Metals Review
For the week of April 4th, 2011
For the week of April 4th, 2011
Precious metals had a mixed week last week trying to trade to new heights. The gold market hit at $1,449 before losing its footing and sliding back to $1,415 only to rally back up to $1,440 where the price sits right now. The way I see it, dips can be bought in this market as the chart looks like it might realize higher highs and higher low. To me silver is the strongest of the metals and is actually making new highs here breaking through $38 as this price has been on fire since last year, rallying more than 100%. I think all metals will continue to rally as the USD gets weaker against other major currencies as the Euro/USD has flown by $1.42 and is on its way to the $1.43 handle. Look for Gold to make new highs again this week. Copper is still under the liquidation mode and even though the equity markets have rallied Copper has still fallen below $4.25. I like this base metal below $4.20 as a buy with great support at $4.10.
It'll be useful to learn how other interactive market working, as usual just check out other futures market reviews to get more information supporting your business!