Not too much, just spend some minutes to view the metals review for this week to check out notes that our epxert - PitGuru Daniel Cronin - thinks that they are important to your trading to be ready for your trading week!
The Metals Pit Review
For the week of August 30th, 2010
Precious metals faded toward the end of the week as GDP reports were better than expected giving this market reason for investors to sell and take profits. Gold could not get above $1,245 and silver could not breakthrough $19.25. This week is expected to be choppy with the non-farm payrolls playing a huge factor into the trade. I do think the market will see gold cool off to $1,225 before going above $1,245. This market needs a breather after it crawled up from $1,159 to $1,245 so a bit of profit taking is not out of the question.
Copper had a huge rally on the Sunday night session as December broke above $3.40 to trade at $3.46. Bernanke’s comments last week fueled investors into this market. I saw a lot of selling on the rally however and I would recommend doing the same as I can see copper going back down to $3.35 before heading higher ahead of the non-farm payroll action Friday.
As usual, don't miss other news around financial, soft, grain, energy markets to support your trading.
Futures reviews for this week!
Chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.
08-31-2010, 03:17 AM
The Metals Review for The Last Week of August, 2010
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