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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 planking 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 trading mixed: GCZ4 -6.5 (-0.52%), SIZ4 -0.111 (-0.64%), HGZ4 +0.014 (+0.46%). Metals prices on Wednesday closed lower. Closes: GCZ4 -6.2 (-0.50%), SIZ4 -0.318 (-1.81%), HGZ4 -0.0105 (-0.35%). Bearish factors included (1) the rally in the dollar index, and (2) reduced demand for precious metals as an inflation hedge after U.S. Sep CPI ex-food and energy rose as expected. Losses in copper were contained on signs of strength in the Japanese economy after Japan Sep exports rose by the most in 7 months.