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May 26, 2012 10:01PM GMT
     
 
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Judy Crawford : Metals Comments

By   |  Commodities Fundamental Analysis  |  Oct 19, 2011 01:52PM GMT  |  Add a Comment
 
DEC COPPER:  Just looking at all the charts, there could be more to copper's attempt at rallying.  There are two obstacles though.  There is the 350.00 resistance that is major.  Plus China's economy is slowing down.  It tested 325.00 support today and bounced right off of there.  Keep in mind that any rally it can "muster up" will be one to short.  Closed 336.00, down 1.80.

DEC MINI GOLD:  For lack of a better term, gold has "lost its luster."  It has been trying to hold 1650.00 for over a week and sold off under it today.  The low 1628.20.  It then rallied and barely closed over 1650.00.  It is now again under the 100 day ma and the 20.  I see more sell-off.  Closed 1652.80, down 23.80.

DEC MINI SILVER:  It sold off to 30.370 today and then rallied to barely close higher on the day.  It is still struggling with the 20 day ma on the daily chart and cannot seem to be able to close over it.  Just watching.  Closed 31.831, up .010.

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