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Twenty-five-year commodity market veteran Jim Prince is an expert in the principles of technical trading. Each day Jim reviews the biggest moves in the commodity markets, identifying formations and planning trading strategies. And now, in his free Daily Alert, Jim will share with you his hot pick of the day with an exclusive 3-5 minute video.
With each Daily Alert video Jim reviews first-hand his featured chart of the day, discusses trading strategy, and highlights possible entry and exit points.
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Metals prices this morning are weaker: GCM6 -11.6 (-0.90%), SIN6 -0.229 (-1.31%), HGN6 -0.026 (-1.17%) at a 2-week low. Tuesday's closes: GCM6 -4.0 (-0.31%), SIN6 -0.183 (-1.03%), HGN6 -0.0475 (-2.10%). Metals on Tuesday closed lower on the recovery in the dollar index from a 1-1/4 year low, increased supplies after LME copper inventories jumped +5,175 MT to a 6-week high of 154,675 MT, and demand concerns for industrial metals after the European Commission cut its Eurozone 2016 and 2017 GDP forecasts.