At 8:15 am (Central) this morning (Nov 2) the Futures HeatMap shows that the Metals sector is up a composite 1.94% (when compared to Tuesday's closing prices); and among the five contracts which comprise the HeatMap, Copper leads the way, up 2.63%, followed by Silver's morning rally of 1.97% (note: both Platinum and Palladium are lower).
This morning we see a variety of technical indicators and studies, covering long, intermediate and short term outlooks, giving mixed and bearish signals for December Silver futures.
Note: Trading Futures and Options is speculative in nature and involves substantial risk of loss.
50/100 MACD Oscillator and the 100 Day Moving Average vs Price show Sell signals versus a Hold signal shown by the 60 Day Commodity Channel index.
Of our four Medium Term Indicators, two are Bearish, one is Bullish and one is Hold.
Short Term Indicators
• 20 Day Moving Average vs price: BUY
• 10/8 Day Moving Average HiLo Channel: HOLD
• 20 Day Bollinger Bands: HOLD
• 7 Day Directional Indicator: SELL
• 20/50 Day MACD Oscillator: SELL
These can all be viewed at the Technical Analysis/OPINION page available at the Markethead.com web portal. Clicking the name of the particular indicator at this page will bring up a chart with that indicator or study.
Source: Markethead.com; Quote Data provided by BarChart.com
Download our report, Looking at the Long Term Super Trend Simple Moving Average. (click or type into your browser: http://www.zaner.com/3.0/ljssupertrend.asp)
Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed. No technical study or indicator, including those mentioned in this article, will be successful or reliable 100% of the time.