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The Week Metal Review : May 9th, 2011

Discussion in 'Stock Market News & Analysis' started by gajoinvest18, May 10, 2011.

  1. gajoinvest18

    gajoinvest18 New Member

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    As usual, just spend some minutes to check for the metal market review, this will help you for the whole trading week. Let's see what Pitguru Daniel Cronin has collected the information for you!

    The Metals Review
    For the week of May 9th, 2011​

    Precious metals finally got liquidated after the huge run they had with Gold trading below $1,500 and Silver falling to $36 from $48 an ounce just in four days alone. This market will likely have a dead cat bounce this week and I think one could see Gold trading back above $1500 and Silver above $39. This market is very volatile right now so options are the way to go in my opinion. Copper fell very hard from $4.20, below the support of $4.10 to $3.92. I believe this too will see a pop back above $4.00 and there looks to be some resistance at $4.05/$4.06 now.

    By the way, learn about other futures markets to get more support for your business!
     
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