Metal Review for This Week : February 7th, 2011

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Just a minute, let's go around the metal market this week with Pitguru Daniel Cronin!

The Metals Review
For the week of February 7th, 2011

Precious metals had a nice rally last week and look to continue this week as gold is above $1,350 and looking healthy here. What really is strong right now is the silver price which rallied above $29 and has outperformed gold this year. I would look to take profits ahead of the $30 level as there is good resistance there. Copper having yet another huge week rallying to new heights above $4.60 per lb. I believe there will be some resistance up between $4.65 and $4.75 so look to take some profit in this mark as well as the slow stochs and RSI have both risen above the 80 level indicating an overbought market.