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Positive Euro Data Lifts Energies


While global equity markets generally tracked higher overnight and economic news from the euro zone was positive, overall market sentiment today could be dented as Congress pushes forward on impeachment. Surprisingly, a slightly higher dollar this week, has not held back gold and silver prices perhaps because some pressure from the US treasury market has abated after the noted price recovery off yesterday’s lows.


Critical support in the April platinum is seen at $1,050 and a return to the January highs is likely before the end of the week. In palladium, the charts are negative, and the market is not getting favorable demand stories like platinum.


On one hand, the copper market is threatened today by news that China saw its largest daily infection in 5-months but that negative for copper is offset by expectations of another month of significant Chinese export activity. It should also be noted that LME copper stocks continue to contract in the background and the euro zone overnight posted much better than expected November industrial production readings.

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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