Comments for March 11, 2010

Looking Ahead to Thursday by reflecting back on Wednesday's trading action

All the metals appear to be in Uptrends

METALS: 03/11/10 Lower closes yesterday for copper, gold, silver and platinum this time. All of the metals continue to be in uptrends overall with platinum leading the way. Copper continues to look higher while now in a BULL TRIANGLE still trying to get through a resistance area. Gold, although giving me a buy signal last week has really been going nowhere since the middle of last December along with making lower highs and lows since then. It needs to settle over 1150(April) to help confirm my buy signal. Otherwise, a close below 11000 would 10885 would end it. Likewise, silver also gave me a buy signal last week while working lower overall since December needing a close over 1750 for May contract. It has penetrated 1750 three out of the last four trading days but sold off each time at least confirming my analysis. Platinum continues to look the strongest of the metal complex even after closing lower.

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REMINDER: March/June Stock Index Futures Rollover begins today, Monday, March 11!!