Metal Review for The Week of April 11th, 2011

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I'm glad to be back the metal market and share with you guys the market analysis by Pitguru Daniel Cronin. I hope that you will have a great trading week with this support. To be traders in futures trading platform or any platform related to metals, you can check out other futures market reviews to learn more how interactive others change and influence on metal prices.

The Metals Review
For the week of April 11th, 2011

Precious metals once again had another stellar week this time breaking the huge resistance in Gold at $1,450 and rallying to new heights at $1,470. $1,475 is my next target here so look for profit taking to occur around this area. Silver reached its target of $40 rather quickly last week and now trades at $40.35 still looking to rally higher. This was caused by the USDs collapse against other major currencies with the Euro/USD now trading at $1.44. Look for the precious metals to try and take some kind of profit this week but $1,500 Gold too far away. Copper rallied along with the equities and other metals and now stands at $4.50. Remember that the price is getting closer and closer to the $4.55-$4.65 resistance are so look for this market to hold steady up here. Prices have rallied 30 cents in a week and a half.


*Chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.