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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 +1.9 (+0.16%) at a 3-1/4 month high, SIH6 +0.045 (+0.30%), HGH6 -0.015 (-0.68%). Thursday's closes: GCJ6 +16.2 (+1.42%), SIH6 +0.116 (+0.79%), HGH6 +0.0365 (+1.74%). Metals prices on Thursday closed higher with Apr gold at a 3-month high, Mar silver at a 2-3/4 month high and Mar copper at a 1-month high. Metals gained support from the fall in the dollar index to a 3-1/4 month low, increased safe-haven demand with the sell-off in stocks, and the -2,700 MT decline in LME copper inventories to a 6-week low of 232,700 MT.