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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 lower: GCJ5 -0.2 (-0.02%), SIK5 -0.051 (-0.31%), HGK5 -0.043 (-1.58%). Metals prices on Monday settled mixed: Closes: GCJ5 +3.0 (+0.25%), SIK5 -0.004 (-0.02%), HGK5 -0.0030 (-0.11%). Bearish factors included (1) the rally in the dollar index to a 5-week high, and (2) the rally in stocks that reduced the safe-haven demand for precious metals. Copper closed higher on improved demand prospects after China cut interest rates in an attempt to spur growth.