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Silver Market Recap Report
Fri 08 Mar 2013 16:36:00 CT
Related Keywords: Metals
Related Keywords: Metals
For a while today the May silver contract seemed to be tracking different fundamentals than the rest of the precious metals complex. In addition to slack physical commodity price action in outside markets, silver also seemed to be undermined by a definitive downside breakout in copper prices. The bulls might suggest that the big downside breakout was ultimately rejected but technical traders think there was some psychological damage done with the extremely poor opening today in copper prices as macro economic slowing fears are becoming a key headline focus.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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