Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.prices are sharply lower in midday U.S.
Technically, June gold futures bulls still have the solid overall near-term technical advantage. A nine-week-old uptrend is still in place on the daily bar chart. So far, this is just a routine downside price correction in an uptrend. Bulls’ next upside price objective is to produce a close above solid resistance at the contract high of $2,448.50. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $2,250.00.
Prices are in a two-month-old uptrend on the daily bar chart. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at 460.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 425.00 cents. First resistance is seen at today’s high of 455.05 cents and then at 460.00 cents. First support is seen at 440.00 cents and then at 435.00 cents. Wyckoff's Market Rating: 8.0.
Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.com
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