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Metal Review for This Week : May 9th, 2011

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It will not take you much time to check for the metal market review this week, but will be valuable for your whole trading week. Let's see what Pitguru Daniel Cronin has analyzed for you!

 

The Metals Review

For the week of May 9th, 2011

 

Precious metals finally got liquidated after the huge run they had with Gold trading below $1,500 and Silver falling to $36 from $48 an ounce just in four days alone. This market will likely have a dead cat bounce this week and I think one could see Gold trading back above $1500 and Silver above $39. This market is very volatile right now so options are the way to go in my opinion. Copper fell very hard from $4.20, below the support of $4.10 to $3.92. I believe this too will see a pop back above $4.00 and there looks to be some resistance at $4.05/$4.06 now.

 

By the way, spend some time more to learn around other futures market reviews on financial, energy, soft and grain.

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