Gold Futures Update

Gold Futures Update is a blog dedicated to bringing updates, news and commentary on gold futures and metal futures markets including gold, silver, high grade copper, platinum and more.

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REVERSAL TYPE ACTION FOR SILVER

Posted on 5/17/2013 1:38:41 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

Higher for copper and silver while lower for gold and platinum. Copper had been making lower highs and lows overall since the beginning of February with similar bearish patterns all the way down but had a W reversal formation back in the middle of April which it broke out of in the first week of June leading to a nice retracement rally. Since then there has been a selloff but, overall, the copper so far has held the gains from that breakout and could be forming a much larger possible bottom. Copper's overall trend is still down and a recent failed bull pennant hasn't  helped either. Its nearest resistance area ia around the 340 area up to the 360 area. Copper also has pockets of resistance all the way up but, looking at a weekly chart, you can see its been in a trading range basically between 310 and 400 since September 2011. Silver settled one tick higher while gold had its sixth lower close in a row and gold had poor closes with the former making its lowest low and close in over a month. Action all the way down remains so choppy that you can't dig in and just take a position to hold unless you are highly capitalized or use options. Silver looks very weak overall after trading sideways for over a month and then falling over five dollars before stabilizing from the middle of April to around the middle of June. Making its worst low and a month but barely closing higher is still reversal type action to me. I also don't see much support below for silver also for gold either but quite a bit of resistance overhead. DON'T FORGET GOLD AND SILVER PEAKED OUT IN 2011! Meanwhile, platinum like gold and silver, has recently had a nice retracement rally off of reversal type action before consolidating over the last couple of weeks. However, its trend still remains lower overall and I don't trust this pattern yet. BUY SIGNAL FOR COPPER. SELL SIGNALS FOR  SILVER, GOLD AND PLATINUM. CALL FOR DETAILS!  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

REVERSAL TYPE ACTION FOR SILVER

Posted on 5/17/2013 1:38:23 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

Higher for copper and silver while lower for gold and platinum. Copper had been making lower highs and lows overall since the beginning of February with similar bearish patterns all the way down but had a W reversal formation back in the middle of April which it broke out of in the first week of June leading to a nice retracement rally. Since then there has been a selloff but, overall, the copper so far has held the gains from that breakout and could be forming a much larger possible bottom. Copper's overall trend is still down and a recent failed bull pennant hasn't  helped either. Its nearest resistance area ia around the 340 area up to the 360 area. Copper also has pockets of resistance all the way up but, looking at a weekly chart, you can see its been in a trading range basically between 310 and 400 since September 2011. Silver settled one tick higher while gold had its sixth lower close in a row and gold had poor closes with the former making its lowest low and close in over a month. Action all the way down remains so choppy that you can't dig in and just take a position to hold unless you are highly capitalized or use options. Silver looks very weak overall after trading sideways for over a month and then falling over five dollars before stabilizing from the middle of April to around the middle of June. Making its worst low and a month but barely closing higher is still reversal type action to me. I also don't see much support below for silver also for gold either but quite a bit of resistance overhead. DON'T FORGET GOLD AND SILVER PEAKED OUT IN 2011! Meanwhile, platinum like gold and silver, has recently had a nice retracement rally off of reversal type action before consolidating over the last couple of weeks. However, its trend still remains lower overall and I don't trust this pattern yet. BUY SIGNAL FOR COPPER. SELL SIGNALS FOR  SILVER, GOLD AND PLATINUM. CALL FOR DETAILS!  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

REVERSAL TYPE ACTION FOR SILVER

Posted on 5/17/2013 1:35:28 PM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

Higher for copper and silver while lower for gold and platinum. Copper had been making lower highs and lows overall since the beginning of February with similar bearish patterns all the way down but had a W reversal formation back in the middle of April which it broke out of in the first week of June leading to a nice retracement rally. Since then there has been a selloff but, overall, the copper so far has held the gains from that breakout and could be forming a much larger possible bottom. Copper's overall trend is still down and a recent failed bull pennant hasn't  helped either. Its nearest resistance area ia around the 340 area up to the 360 area. Copper also has pockets of resistance all the way up but, looking at a weekly chart, you can see its been in a trading range basically between 310 and 400 since September 2011. Silver settled one tick higher while gold had its sixth lower close in a row and gold had poor closes with the former making its lowest low and close in over a month. Action all the way down remains so choppy that you can't dig in and just take a position to hold unless you are highly capitalized or use options. Silver looks very weak overall after trading sideways for over a month and then falling over five dollars before stabilizing from the middle of April to around the middle of June. Making its worst low and a month but barely closing higher is still reversal type action to me. I also don't see much support below for silver also for gold either but quite a bit of resistance overhead. DON'T FORGET GOLD AND SILVER PEAKED OUT IN 2011! Meanwhile, platinum like gold and silver, has recently had a nice retracement rally off of reversal type action before consolidating over the last couple of weeks. However, its trend still remains lower overall and I don't trust this pattern yet. BUY SIGNAL FOR COPPER. SELL SIGNALS FOR  SILVER, GOLD AND PLATINUM. CALL FOR DETAILS!  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

Copper Fresh buy signal 05/17

Posted on 5/17/2013 1:13:00 PM by: Larry Baer, Market Strategist @ Zaner. 312-277-0112.

Call me for trade set-ups and further details at (312) 277-0112

Or e-mail me at lbaer@zaner.com

Subscribe to my FREE to Larry Baer's Charts and Set-Ups Newsletter: http://zaner.com/offers/?page=1&ap=lbaer&rid=LBAER

View my intraday updates and thoughts on other markets at http://larrybaer.com

SEE CHART

REVERSAL TYPE ACTION FOR SILVER

Posted on 5/17/2013 7:24:15 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

Higher for copper and silver while lower for gold and platinum. Copper had been making lower highs and lows overall since the beginning of February with similar bearish patterns all the way down but had a W reversal formation back in the middle of April which it broke out of in the first week of June leading to a nice retracement rally. Since then there has been a selloff but, overall, the copper so far has held the gains from that breakout and could be forming a much larger possible bottom. Copper's overall trend is still down and a recent failed bull pennant hasn't  helped either. Its nearest resistance area ia around the 340 area up to the 360 area. Copper also has pockets of resistance all the way up but, looking at a weekly chart, you can see its been in a trading range basically between 310 and 400 since September 2011. Silver settled one tick higher while gold had its sixth lower close in a row and gold had poor closes with the former making its lowest low and close in over a month. Action all the way down remains so choppy that you can't dig in and just take a position to hold unless you are highly capitalized or use options. Silver looks very weak overall after trading sideways for over a month and then falling over five dollars before stabilizing from the middle of April to around the middle of June. Making its worst low and a month but barely closing higher is still reversal type action to me. I also don't see much support below for silver also for gold either but quite a bit of resistance overhead. DON'T FORGET GOLD AND SILVER PEAKED OUT IN 2011! Meanwhile, platinum like gold and silver, has recently had a nice retracement rally off of reversal type action before consolidating over the last couple of weeks. However, its trend still remains lower overall and I don't trust this pattern yet. BUY SIGNAL FOR COPPER. SELL SIGNALS FOR  SILVER, GOLD AND PLATINUM. CALL FOR DETAILS!  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.

THE MOVIE 'TITANIC' COULD HAVE BEEN ABOUT THE METALS COMPLEX!

Posted on 5/16/2013 7:24:01 AM by: Rick Alexander, VP, Trading @ Zaner. 312-277-0107.

Lower for copper, silver, gold and platinum. Copper had been making lower highs and lows overall since the beginning of February with similar bearish patterns all the way down but had a W reversal formation back in the middle of
April which it broke out of in the first week of June leading to a nice retracement rally. However, the action of the last week could possibly have signaled the end of this rally. Since copper is in a minor support area at this time, we'll just have to wait and see. Copper's overall trend is still down and a failed bull pennant didn't help either. Its nearest resistance area ia around the 340 area up to the 360 area. Copper also has pockets of resistance all the way up but, looking at a weekly chart, you can see its been in a trading range basically between 310 and 400 since September 2011. Silver and gold had poor closes with the former making its lowest low and close in over three weels and the latter in a month. Action all the way down remains so choppy that you can't dig in and just take a position to hold unless you are highly capitalized or use options. Silver looks very weak overall after trading sideways for over a month and then falling over five dollarr before stabilizing from the middle of April to around the middle of June. Today's action probably signifies the end of that and a resumption of silver's overall downtrend. I also don't see much support below. I can't see much support for gold underneath either and quite a bit of resistance overhead. Finally, I would need to see a close over 16210 in the June contract to start thinking higher. DON'T FORGET GOLD AND SILVER PEAKED OUT IN 2011! Meanwhile, platinum like gold and silver, has recently had a nice retracement rally off of reversal type action before consolidating in what could be still be in a BULL TRIANGLE at this time. However, its trend still remains lower overall and I don't trust this continuation pattern this time although it is considrered reliable. BUY SIGNAL FOR COPPER. SELL SIGNALS FOR  SILVER, GOLD AND PLATINUM. CALL FOR DETAILS!  For additional charts, quotes, news, commentary & more sign-up for a FREE 30-day trial to Market head.Com.