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FUTURES MARKET TIMING SIGNALS: METALS MARKETS
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Last updated 8-5-04 |
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| SYM | TECH - LT | TECH - ST | SEAS | POWER | OI | VOLAT |
| GC: | On pullback | NA now. Peak Dec/J ahead | Moving up to support at least a mild rally | Unc | Falling, confirms pullback | |
| Captive of forex and interest rates. Stand aside. | ||||||
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SI: |
Whipsaw | Uptrend | NA now. Peak Dec/J ahead | Supports at least a bit more upside | Rising | Falling, confirms the ST rally |
| Silver may tend to "snake" to the upside over the next few weeks. Keep tight stops on longs. Longs may also consider selling expensive options here. | ||||||
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HG: |
Whipsaw / wild | Uptrend | Like June, Sep/O is often bearish. | Supports a bit more upside | Low but rising | Unc |
| Copper may tend to "snake" to the upside over the next few weeks. Keep tight stops on longs. | ||||||
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PL: |
Weak | Weak | NA | Bullish, supportive of rally | Very low | Unc |
| Stand aside. | ||||||
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NOTES: |
The recent final gold rallies have primarily been "dollar weakness". GC is very captive to the forex markets right now. Look for silver and copper to mildly favor the upside short term. | |||||
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LEGEND |
| TECH - LT: Long-term technical picture, usually based on weekly charts |
| TECH - ST: Short-term technical picture, usually based on daily charts |
| POWER: Interpretation of internal market power |
| OI: Open interest analysis |
| VOLAT: Volatility analysis |
| Unc: Unclear or unremarkable |
| NA: Not applicable |
