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Corrective Action In Metals


Despite a broad-based risk off psychology from disappointing European data, gold and silver prices have started off weaker in a fashion that suggests the markets are not tracking flight to quality factors.


Unfortunately for the bull camp the platinum market failed to hold a new contract high breakout yesterday and the market is showing signs of retrenching along with gold, silver, and other physical commodities. The palladium market continues to waffle without respect to a trend commitment.


With a broad-based global risk off psychology in place to start the last trading session of the week, the fundamental bias in the copper market has shifted down. Furthermore, with a series of recent highflying industrial material prices coming under pressure overnight, the copper trade is moving to temper copper demand expectations.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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