Copper and Silver settle sharply higher

METALS: 03/30/10 Higher closes Monday for copper, gold and silver but lower for platinum. 

Currency Futures Market Comments for March 30, 2010

Copper and Silver settle sharply higher

METALS: 03/30/10 Higher closes Monday for copper, gold and silver but lower for platinum. This time copper rallied to settle sharply higher making its highest close since July ’08 and just missing a new high since then. Silver also settled sharply higher now at the upper end of a critical resistance area. Lately, silver has continually sold off when nearing 1750 basis the May contract and, acutually, only once closing over that price. I would sell in this area until it closes over 1750 but staying neutral overall until it does. Gold has been getting pulled up by silver actually looking weak comparatively speaking while trading sideways to lower since December. Platinum also closed sharply higher ending for now its possible topping formation. BUY SIGNALS FOR COPPER AND PLATINUM. SELL SIGNAL FOR GOLD. CALL FOR DETAILS!

See the balance of my morning comments at my website. For my complete coverage, visit my commentary page at http://www.markethead.com. Create customized charts like these at my http://www.markethead.com website. 

Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com or call toll-free (888) 281-4158.

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves substantial risk of loss. Spread trading is not necessarily less risky than outright positions. All known news and events have already been factored into the price of the underlying commodities discussed.

I have been an advisor in the futures business for over thirty years, and at Zaner since 1994. After graduating from Drake University in 1966, I got my start in the commodities industry when I joined my family owned meat-packing business. We were the largest privately-owned meat-packing firm in Chicago and in the top-three in the US. I became a listed futures broker in 1973 and a member of the Mid-America Commodity Exchange in 1975. After trading... More

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