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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: GCJ6 +46.9 (+3.93%) at an 8-1/2 month high, SIH6 +0.448 (+2.93%) at a 3-1/2 month high, HGH6 -0.014 (-0.67%) at a 2-week low. Wednesday's closes: GCJ6 -4.0 (-0.33%), SIH6 -0.167 (-1.08%), HGH6 -0.0125 (-0.61%). Metals on Wednesday closed lower with Mar copper at a 2-week low. Copper prices were undercut by concern about bigger copper supplies after Indonesia approved an export license for Freeport McMoRan's Indonesian copper mine, the world's second-biggest, to export about 1 MMT of copper through Aug 8. An early rally in stocks curbed the safe-haven demand for precious metals.