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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 higher: GCG5 +12.6 (+1.05%), SIH5 +0.237 (+1.49%), HGH5 +0.010 (+0.35%). Metals prices on Wednesday closed higher. Closes: GCG5 +0.2 (+0.02%), SIH5 +0.176 (+1.12%), HGH5 +0.01200 (+0.42%). Bullish factors included (1) improved demand for gold as an inflation hedge after the Fed said in its post-FOMC statement that it will be “patient” in raising interest rate, and (2) the Fed’s comments that said the labor market “improved further” and that “underutilization of labor resources continues to diminish,” which signals economic strength that is positive for copper demand.