GOLD AND SILVER AS WELL AS CRUDE OIL GAOT A WELCOME BREAK FROM ALL THE BEATINGS GOING ON FOR THE PAST THREE WEEKS. WE CAN SAFELY SAY THAT THIS IS A VERY SHORT BULL RALLY IN A SHORT TERM BEAR MARKET. GOLD HAS BEEN CLOSING SUCCESSIVELY HIGHER FOR THE PAST FEW DAYS BUT DO NOT AT ANY COST BE MISLED BY THIS INTO BEING OVERTLY BULLISH. GOLD SHOULD TOP OUT AT $619.20 SPOT AND FROM THERE WE COULD SE A DASH BACK TO THE RECENT LOWS. SO TRADE ON TECHNICALS AND YOU WON'T LOOSE MONEY AT LEAST FOR A MONTH OR SO.
SILVER DOES NOT HAVE ANY METTLE OF ITS OWN BUT TENDS TO FOLLOW GOLD AND CRUDE AND ALSO COPPER. GENERALLY VERY BULLISH ON THIS WHITE METAL I WAOULD ADVISE CAUTION AS IT SHOULD ALSO TOP OUT AT $12.23 FROM WE COULD SEE IT COMING BACK TO $10.75 LEVELLS.
COPPER SHOULD GENERALLY STAY AWAY FROM ALL THE BULLISHNESS AND SHOULD LOOSE ITS SHEEN TO OTHER METALS LIKE MOLYBEDNUM WHICH ARE MUCH CHEAPER AND THE WORSE THAN WORST POSITION OF THE U.S. HOME MARKET AND MAYBE A SLACK DEMAND FORM EMERGING MARKETS.
TRADING RANGE FOR TODAY:(COMEX FUTURE)
GOLD: 601.30TO 618.00 <613.70-614.00>
SILVER: 11.32-12.02 <11.43-11.86>
COPPER: 334.00-352.00 <338.50-347.50>
CRUDE: 61.10-64.00 <61.50-63.50>
TRADING TIP "IT WOULD BE BETTER TO BUY FIRST AND SELL LATER"
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