Futures Traders: Get FREE daily videos covering today's hottest market
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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Precious metals are down on the upward rebound in the dollar index today with Aug gold down -4.9 (-0.45%) and Sep silver down -0.040 (-0.27%). However, Sep copper is up +0.024 (+1.02%) on some relief that global stock markets have stabilized today. Monday's closes: GCQ5 +10.90 (+1.00%), SIU5 +0.117 (+0.81%), HGU5 -2.90 (-1.22%). Precious metals prices on Monday closed higher on short-covering, weakness in the dollar index, and increased safe-haven demand with the renewed plunge in Chinese stocks. Meanwhile, copper prices fell sharply due to Monday's -8.5% plunge in the Chinese Shanghai stock index and concerns about Chinese industrial metal demand.