Do you Believe is Inflation Coming? Buy Metals (Commodity Edition)

• Posted by Greg Harmon
• on November 9th, 2010

If you believe that inflation is coming then you should look at today’s pullback in most of the metals as a gift.  If today’s closing prints do not hold tomorrow here are some potential entry points for the metal commodities futures (Metal ETF levels can be found here).

Gold

The October high of 1387.10 should provide support and there is further support at 1370 below that.
Silver

Strong support can be found at 25 but there is also some support to watch for at 26.30.
Platinum

Aside from the long shadow, this looks like a bull flag. If the flag does not hold at 1750 then there is support at 1715.
Palladium

Don’t play this unless you are a professional. There is support at 680 followed by 642 lower.
Copper

Copper has support at the 389 area and then 383.47 below.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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