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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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Precious metals prices this morning are mixed: Aug gold is +3.6 (+0.31%). July silver is +0.030 (+0.19%). July copper is -0.022 (-0.81%). Friday's closes: GCQ5 +1.4 (+0.12%), SIN5 -0.063 (-0.40%), HGN5 +0.0215 (+0.82%). Precious metals on Friday settled mixed. Negative factors included (1) the rally in the dollar index to a 2-week high, and (2) the stronger-than-expected final-June U.S. consumer sentiment index, which may push the Fed to raise interest rates. Jul copper posted a 1-week high on reduced supplies after weekly Shanghai copper inventories fell -12,270 MT to a 5-3/4 month low of 112,921 MT.