Written Commentary
GOLD / SILVER
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.
PLATINUM / PALLADIUM
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.
COPPER
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.
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