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The Metals Review : Week of February 7th, 2011


fltraz22
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Just about five minutes to scan through and note down the necessary information on metal market with the Pitguru Daniel Cronin's analysis for your whole trading week! Ready?

 

The Metals Review

For the week of February 7th, 2011

 

Precious metals had a nice rally last week and look to continue this week as gold is above $1,350 and looking healthy here. What really is strong right now is the silver price which rallied above $29 and has outperformed gold this year. I would look to take profits ahead of the $30 level as there is good resistance there. Copper having yet another huge week rallying to new heights above $4.60 per lb. I believe there will be some resistance up between $4.65 and $4.75 so look to take some profit in this mark as well as the slow stochs and RSI have both risen above the 80 level indicating an overbought market.

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