Gold = Money, Copper = Growth, Other Metals = Buy?

There is constant talk about how Gold is Money or maybe a safe haven or measure of inflation. Additionally much has been written about how Copper is a measure of economic strength and growth globally. But what about Silver, $SI_F, Platinum, $PL_F and Palladium, $PA_F? Well from looking at their charts the answer just might be that they are a Buying opportunity. Let’s take a look.

Silver had a hard sell-off at the end of September and has been basing for over two weeks. But there are signs it is ready to breakout higher. The Relative Strength Index (RSI) has been steadily rising off of the low and the Moving Average Convergence Divergence (MACD) indicator has been trending better and just crossed positive. Both support more upside. Now it is has been banging around resistance at 32.00 and through it Wednesday morning. Above thee is resistance higher at 33.50 before it can get running.

Platinum is a similar story. The RSI is a little weaker than that of Silver but is trending higher and the MACD is crossing higher with a trend that has been constantly improving. It has resistance higher at 1560 but then above that has some room before major resistance at 1675.

Finally Palladium also has support from its technical indicators for a move higher. The RSI is trending higher and the MACD is crossing and the trend has been improving. This one is a bit riskier as the MACD cross may turn into a kiss, and move back negative. But if price continues higher, above the resistance at 622, then there is some resistance at 650 before a leap higher to 700.

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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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