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Choppy Trading in Metals


While the gold and silver markets are tracking higher this morning, the charts do not appear to have shifted decisively back into positive positioning following Monday’s reversal.


All things considered, the platinum market has held up impressively following the Monday smack-down which temporarily sent prices below the 50-day moving average and to the lowest level since November 24th. The palladium market also looks to be caught in a trading range bound by $2,298 and $2,410.


The copper market this morning has partially thrown off the liquidation wave started by the reversal Monday. However, the charts generally remain negative with the market still massively overbought from spec and fund long positioning.

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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