LOOKING AHEAD TO FRIDAY BY REFL ECTING BACK ON THURSDAY'S ACTION
My technical indicators keep me Bullish on Copper, Bearish on the Precious metals Group
METALS: 07/10/09 Higher settlements on Thursday for copper, gold, silver and platinum. Copper is still in an uptrend overall but came very close to giving me a sell signal on Wednesday. Although gold and silver closed higher they still should work lower overall. My long term objective for silver is still 1100 basis the September contract. Platinum made a new recent low before settling higher in reversal type action but I expect platinum to continue lower overall.
FINANCIALS: 07/10/09 Lower closes yesterday for the eurodollar, notes and bonds. All of the financials continue to trend higher overall with the eurodollar and the notes in small bull pennants and the bonds in what looks like a small bull flag. Buy Signals for the Bonds and Notes.
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