The Metals Review for The Week of June 20th, 2011

[jackfutu18]

New week starts, it's time for us to be back metal market to check for the latest news guiding traders' work.

The Metals Review
For the week of June 20th, 2011​

Precious metals bounced up last week as fear came back into the market with gold shooting higher from $1,520 to $1,540 and silver rallying to above $36. Even as the USD increases the precious metals appear unaffected by this as traders dip back in to the market here with a falling S&P. As I see it, gold still has great resistance at $1,555 and silver at $38 to $40. Copper is down again below $4.10 as this market has been having a tough time recently and looks to head lower. I believe a $3 handle will be seen very soon as the equity markets still look to come off.

 

[pitgurufk]

The Metals Review
For the week of July 18, 2011​

Precious metals once again were higher last week and I feel like they have been higher for 10 straight weeks as Gold inched in on the $1,600 level. Silver also has been trying to get above the $38 level and has done so on Friday. Look for Gold and Silver to both rally and I would say it is safe to say Gold will print $1,600 this week. There is just too much pressure on the upside here to not have a print of $1,600. I also like silver to test $40 as this market has had longs get back into the market at these levels.

Copper has been having a battle at the $4.43 level and has had a range of $4.44 to $4.3150 as this market trades at these levels for now. I like the short copper play up here especially with all the negative news out within the US and the Eurozone. Look for Copper to trade down into $4.35 as the equity market will continue to point lower.

*chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.

 

[pitgurufk]

The Metals Review for The Week of July 25, 2011

The Metals Review
For the week of July 25, 2011​

By Daniel Cronin​

Precious metals had another outstanding week as Gold climbed above $1,600 and opened the Sunday session +$15 at one point. Silver also rallied above $40 as the safe haven play is still in effect on the COMEX. With the Euro rallying on Friday it only fueled the fire under the Gold market to advance higher. That pull back the market saw last week was viewed as a great time to jump in on the dip and now Gold trades up to the all-time high of $1,623. I believe this market will continue to rally into the week as new highs seem very likely.

Copper has hit a rough patch above the $4.45 level and after breaking that briefly has now slipped back to under $4.40. I will look for this market to head lower as the equities seem to be teetering with the uncertainty of the debt ceiling.

Disclaimer: Past performance is not indicative of future results. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Fundamental factors, seasonal and weather trends, daily news, and other current events may have already been factored into the markets. The use of stop loss or contingent orders may not protect profits and may not limit losses to the amount intended. Certain market conditions make it difficult or impossible to execute such orders.

 

[pitgurufk]

The Metals Review for The Week of August 1, 2011

The Metals Review
For the week of August 1, 2011​

By Daniel Cronin​

Precious metals rallying to new heights last week in the gold market above $1,630 as investors felt fear from the Aug 2 deadline of the debt ceiling. With the debt issue now all but come to a reach I believe puts should be played this week as the market will see a rush to sell the yellow metal as fear gets taken away. Gold is already down $10 right now and will likely look to trade below $1,600. Copper looks to be a good buy here breaking above resistance levels and talk of low supplies on the LME. Look for this market to head higher this week.

Disclaimer: Past performance is not indicative of future results. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Fundamental factors, seasonal and weather trends, daily news, and other current events may have already been factored into the markets. The use of stop loss or contingent orders may not protect profits and may not limit losses to the amount intended. Certain market conditions make it difficult or impossible to execute such orders.

 

[pitgurufk]

The Metals Review for The Week of August 8, 2011

The Metals Review
For the week of August 8, 2011​

By Daniel Cronin​

Precious metals had a very wild ride last week as the markets rallied in the beginning of the week above the all time high at $1,630 and made new highs at $1,685 as the US credit rating was downgraded from AAA to AA+. This will be huge for gold and I would expect to see an influx of buying come in during the week with the price headed over $1,700. Silver has been lagging behind Gold for the last few weeks but I think this is a huge chance for Silver to make up significant ground. Look for Silver to rally above $40 to start out the week as this will move up swiftly.

Copper has had a huge downturn down some 40 cents since the high as this market is getting clobbered with the economy taking a nosedive. This market looks to be headed below $4.00 this week so look out for this level. Next support is $3.85 so look for this market to pause around here and get its bearings straight.

***chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results

 

[pitgurufk]

The Metals Review for The Week of August 15, 2011

The Metals Review[
For the week of August 15, 2011​

By Daniel Cronin​

Precious metals finally took a hit last week. Gold prices came off $80 from all time highs as the CME increased margin requirements 22%. I feel like this is the first week I am writing about gold being down as this markets has made a tremendous move this year. What also helped gold lower was the bounce back in equities especially at the end of the week. I believe Gold can bounce back this week as it is at a critical support level right now of $1,730. The Silver market just can't get over the $39-$40 range and I see this market hovering at $37-$38 this week. I would look to play OTM calls in the Gold market to try to take advantage of the price drop in recent days.

The copper market has had a range of $3.81 to $4.06 in the last two weeks as the market has come down significantly with the equity markets. I see the same range this week as this market looks to consolidate around the $3.90 level as there is great support at $3.80.

***chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.

Disclaimer: Past performance is not indicative of future results. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Fundamental factors, seasonal and weather trends, daily news, and other current events may have already been factored into the markets. The use of stop loss or contingent orders may not protect profits and may not limit losses to the amount intended. Certain market conditions make it difficult or impossible to execute such orders.