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Home / Futures Blog / Precious Metal Weekly Recap

Precious Metal Weekly Recap

March 25, 2014 by Drew Rathgeber

Gold

April Gold (GCJ4) traded as high as $1,392.60 per troy ounce and as low as $1,320.80 which traded in a $71.80 range last week. Support 1 (S1) for April Gold is coming at $1,320.00, then Support (S2) at $1,275.00, then major Support 3 (S3) $1,200.00. Meanwhile overhead Resistance (R1) for April Gold is $1,350.00, then Resistance (R2) at $1,392.00, then major Resistance (R3) at $1,425.00. For now we are stuck in a channel in Gold from the $1,200 – $1,400 range, and for right now trading in the upper range.

gold

Silver

May Silver (SIK4) traded as high as $21.65 per troy ounce and as low as $20.14 which traded in a $1.51 range last week. Support 1 (S1) for May Silver is coming at $20.15, then Support 2 (S2) at $19.00, then major Support 3 $15.00 per troy ounce. Meanwhile overhead Resistance (R1) for May Silver is $21.15, then Resistance (R2) at $21.60, then major Resistance (R3) at $22.00. If we could see it break through $22.00 then we could eventually see $24.00. For now the white metal is trading in a small channel, and will probably take something fundamental for it to break either direction.

silver

Palladium

June Palladium (PAM4) traded as high as $800.00 per troy ounce and as low as $746.30 which traded in a $53.70 range last week. Support 1 (S1) for June Palladium is coming at $765.00, then Support 2 (S2) at $750.00, then major Support 3 $700.00 per troy ounce. Meanwhile overhead Resistance (R1) for June Palladium is $760.00, then Resistance (R2) at $780.00, then major Resistance (R3) at $850.00. Palladium has major bullish set-up, gaining strength heading for its all-time highs of $862.00.

palladium

Platinum

April Platinum (PLJ4) traded as high as $1,487.10 per troy ounce and as low as $1,424.20 which traded in a $62.90 range last week. Support 1 (S1) for April Platinum is coming at $1,435.00, then Support 2 (S2) at $1,420.00, then major Support 3 $1,380.00 per troy ounce. Meanwhile overhead Resistance (R1) for April Platinum is $1,450.00, then Resistance (R2) at $1,470.00, then major Resistance (R3) at $1,700.00. Platinum is surprisingly based on fundamental geopolitically uncertainty is still range bound $1,300.00 – $1,500.00, based on a current event like Palladium, Platinum would breakout.

platinum

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: The Rath Overlay

About Drew Rathgeber

Drew began his career at one of the nation’s largest physical spot bullion dealers in 2003. From there he made the transition into commodity futures in 2006. Because he has worked on both sides of the fence, ‘Spot’ and ‘Futures’, he has an astute understanding of how the precious metals markets can work for Retail Traders, Hedgers, and Commercials. He can use this knowledge to help investors and traders alike. Drew also has years of experience in electronic software execution, automated systems, hedging, newsletters, options strategies and outright futures contracts. Through his expertise in these areas, he can guide you and answer all of your questions while teaching you how to manage risk.

Today you can see Drew working in many different capacities in the commodity futures markets. You can even see his weekly IMA Live precious metals commentary every Tuesday and Thursday or sign-up for his weekly newsletter, the “Rath Overlay”, which highlights commodity futures markets and possible future events using his time-tested yet simple trading strategy.

Drew grew up near the popular surf beaches of Southern California. Drew is still an avid surfer and snowboarder. Currently his latest craze is United States Masters Swimming (USMS). He is a nationally ranked swimmer and enjoys competitive open water distance swimming.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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