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Comments for March 12, 2010

Looking Ahead to Friday by reflecting back on Thursday’s trading action

All the metals appear to be in Uptrends, led by Platinum 

METALS: 03/12/10 Higher closes Thursday for copper, gold, silver and platinum this time with few changes technically. All of the metals continue to be in uptrends overall with platinum still leading the way. Copper continues to look higher still in a BULL TRIANGLE, which has now changed its shape a little, but still trying to get through a resistance area. Gold, although giving me a buy signal last week has really been going nowhere since the middle of last December along with making lower highs and lows since then. It needs to settle over 1150(April) to help confirm my buy signal. Otherwise, a close below 11000 would 10885 would end it. Likewise, silver also gave me a buy signal last week while working lower overall since December needing a close over 1750 for May contract. It has penetrated 1750 three times lately but sold off each time at least confirming my analysis. Platinum continues to look the strongest of the metal complex with a stong close today. BUY SIGNALS FOR COPPER GOLD ,SILVER AND PLATINUM. CALL FOR DETAILS!

REMINDER: March/June Stock Index Futures Rollover began Monday, March 11!!
Read the balance of my morning comments, including the Grains, Energies and Softs at my website. For my complete coverage, visit my commentary page at www.markethead.com 

Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com or call toll-free (888) 281-4158.

The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.