Futures Market commentary

By IBTimes Staff Reporter | April 01 2010 10:21 AM

METALS: 04/01/10 Higher closes yesterday for gold, silver, platinum but lower for copper. Copper settled slightly lower now in a small BULL PENNANT looking very strong overall. Gold is still trading sideways overall since early last December while silver closed over 1750 basis the May contract for only the second time since the middle of January giving me a BUY SIGNAL this time. Platinum made a new CONTRACT HIGH AND CLOSE. BUY SIGNALS FOR COPPER, SILVER AND PLATINUM. SELL SIGNAL FOR GOLD. CALL FOR DETAILS!

Sponsorship Link

MEATS: 04/01/10 Higher closes Wednesday for live and feeder cattle but lower for lean hogs and pork bellies. The cattle now act like they will test their highs closing up for the third trading session in a row but still feel a little heavy at this time. However, if probably is just in retracement action. The feeders, on the other hand, exploded to a new contract high and close while the hogs made a new contract high before settling lower in reversal type action. The feeders continue to hold up the best in the beef complex helped by falling corn prices.The June hog contract still has major gaps below and have filled over 90% of their gaps throughout history. My sell signal has now been removed when a new contract high was made. Bellies closed lowerbut still is in an uptrend with the rest of the meats.BUY SIGNALS FOR LIVE AND FEEDER CATTLE. CALL FOR DETAILS!