jackfutu18
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There are changes around the futures and metal markets, just have a look at Pitguru Daniel Cronin's metal market analysis and other futures market reports for the full view!
Precious metals had a nice week last week moving higher on the Egyptian departure of Mubarak as Gold rallied to just under $1,370 before giving back some gains to $1,360. Silver still looks to be the way to play here as it reached over $30 last week before it too gave back some gains. I like these metals for the long term and also the short term in the next few weeks so I look for opportunities on any dip here.
Copper has repelled from the $4.65 high and is now below $4.60 as this market has seen a bit of profit taking. I do not like the Copper price up here and would be a seller as prices are still too high I believe. I'm looking ore for a $4.20- $4.30 area to get back in as I believe it is overbought up at these levels.
The Metals Review
For the week of February 14th, 2011
For the week of February 14th, 2011
Precious metals had a nice week last week moving higher on the Egyptian departure of Mubarak as Gold rallied to just under $1,370 before giving back some gains to $1,360. Silver still looks to be the way to play here as it reached over $30 last week before it too gave back some gains. I like these metals for the long term and also the short term in the next few weeks so I look for opportunities on any dip here.
Copper has repelled from the $4.65 high and is now below $4.60 as this market has seen a bit of profit taking. I do not like the Copper price up here and would be a seller as prices are still too high I believe. I'm looking ore for a $4.20- $4.30 area to get back in as I believe it is overbought up at these levels.