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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 mixed: GCZ5 +10.8 (+0.95%), SIZ5 +0.024 (+0.16%), HGZ5 -0.022 (-0.92%). Monday's closes: GCZ5 -1.5 (-0.13%), SIZ5 +0.037 (+0.25%), HGZ5 -0.0085 (-0.36%). Metals prices on Monday settled mixed. Metals prices were undercut by speculation that the Fed may still raise interest rates at the Sep FOMC meeting after Fed Vice Chair Fischer said there's "good reason" to believe inflation will accelerate. Metals prices were also hurt by the slide in global stock prices that undercuts optimism in the economic outlook and demand for industrial metals. Metals found support from a weaker dollar.