jackfutu18
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Hello friends,
I'm glad to see you again. Hope you have a nice trading week! As ever, I'd like to share with you guys the metal review done by Pitguru Daniel Cronin in the hope that the information can somehow help your trading.
Precious metals bounced off support levels last week to trade higher as the USD lost ground against other major currencies with the flight to safety play in effect as a huge earthquake rocked Japan and the tensions in the Middle East continue. Gold dipped into the low $1,400's where it was met with good support and now trades higher to $1,430. This looks like another run at the highs are in effect. Keep an eye on the Euro/USD which is just trading a shade under $1.40. Copper has had a big liquidation last week from $4.50 to $4.10 so look for the $4.10-$4.00 mark to show good support as shorts take profit from the recent decline. The equity markets have been on shaky ground these last few weeks so as these go down I think Copper will follow suit.
For more information, please get the news from other futures market reviews! Good luck!
I'm glad to see you again. Hope you have a nice trading week! As ever, I'd like to share with you guys the metal review done by Pitguru Daniel Cronin in the hope that the information can somehow help your trading.
The Metals Review
For the week of March 14th, 2011
For the week of March 14th, 2011
Precious metals bounced off support levels last week to trade higher as the USD lost ground against other major currencies with the flight to safety play in effect as a huge earthquake rocked Japan and the tensions in the Middle East continue. Gold dipped into the low $1,400's where it was met with good support and now trades higher to $1,430. This looks like another run at the highs are in effect. Keep an eye on the Euro/USD which is just trading a shade under $1.40. Copper has had a big liquidation last week from $4.50 to $4.10 so look for the $4.10-$4.00 mark to show good support as shorts take profit from the recent decline. The equity markets have been on shaky ground these last few weeks so as these go down I think Copper will follow suit.
For more information, please get the news from other futures market reviews! Good luck!