Precious metals Review : Week of June 27, 2011

[flfutu28]

New week starts, it's time for us to check out the market we care under the new market analysis by futures experts. Now, open the financial review!

The Metals Review
For the week of June 27, 2011

Precious metals took a serious dive last week and are looking to continue the trend as Gold now is below $1,500 an ounce as the USD continues to shine against other precious metals including the Euro. Silver has been having a hard time getting above $38 and same was the case last week as this market got to $37 but then did an about face and now trades under $34.00 with the USD continuing to increase in value. Silver’s next support level is at $32, just a few dollars away and gold’s support level here is $1,470 which is about $30 off where it is right now. These two levels are critical support points that if they are breached could cause huge selling coming into the metals markets as traders and funds liquidate their positions.

Copper has been in a tight range from $4.00 to $4.15 for a few weeks now. This market has held up quite well above $4.00 as the equity markets move lower. Copper has a huge support level at $4.00 and I look for this to hold for the time being. A break below this will likely lead to $3.90 and below that all bets are off as the price could really liquidate further. I believe the copper price will remain neutral here this coming week and trade between the same range is has seen.

Learn more at Futures Review

[Barron]

Originally Posted by flfutu28

New week starts, it's time for us to check out the market we care under the new market analysis by futures experts. Now, open the financial review!

The Metals Review
For the week of June 27, 2011

Precious metals took a serious dive last week and are looking to continue the trend as Gold now is below $1,500 an ounce as the USD continues to shine against other precious metals including the Euro. Silver has been having a hard time getting above $38 and same was the case last week as this market got to $37 but then did an about face and now trades under $34.00 with the USD continuing to increase in value. Silver’s next support level is at $32, just a few dollars away and gold’s support level here is $1,470 which is about $30 off where it is right now. These two levels are critical support points that if they are breached could cause huge selling coming into the metals markets as traders and funds liquidate their positions.

Copper has been in a tight range from $4.00 to $4.15 for a few weeks now. This market has held up quite well above $4.00 as the equity markets move lower. Copper has a huge support level at $4.00 and I look for this to hold for the time being. A break below this will likely lead to $3.90 and below that all bets are off as the price could really liquidate further. I believe the copper price will remain neutral here this coming week and trade between the same range is has seen.

Learn more at Futures Review

It looks like the dollar may not be doing as well as some expect, metals are still expected to go up and this looks like a great buying time. I guess time will tell, best regards