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This Week Review on Metal Market: May 16th, 2011

Discussion in 'Stock Market News & Analysis' started by gajoinvest18, May 17, 2011.

  1. gajoinvest18

    gajoinvest18 New Member

    Jul 8, 2010
    Likes Received:
    The following review will guide you how the metal market will be traded at this week.

    The Metals Review
    For the week of May 16th, 2011​

    Precious metals kept on liquidating this last week with Gold settling below $1,500 and Silver lower to $34 as the USD strengthened against other major currencies. The Euro/USD is now trading at $1.41 which is down considerably from three weeks ago from a high of $1.4925 as all commodities have been falling. The Silver trade looks to be over for now with the price falling from $49 to $32 as that is a huge decline. I believe Silver will hover around the $30 mark now as it tries to find some support. I think Gold has support at the $1,475 level so watch this mark carefully as it is almost near there already at $1,488. Copper held the $3.85-$3.90 support and is now up to $4.00. I will look for this market to still trade between $3.85 and $4.05 until it builds another solid base....

    For the full view, just check out the metal chart and other reviews on finance, crude oi, gasoline, etc. at http://www.pitguru.com/Article.aspx?cmd=archive&day=16&month=5&year=2011

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