zak mir on copper & platinum. Webcast special

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With Gold closing at a multi year low last night in the wake of the Federal Reserve tapering – now known as “Taper Lite”, it may be the case that some regard it as high time to finally capitulate on precious metals and any asset classes which are remotely related to it! However, there may be some interest on the bull side in terms of the attractions of Copper – an industrial metal that actually may be a play on possible economic recovery in 2014.

Platinum: Falling 2013 Price Channel

 Descending February price channel implies target towards $1,100 over the next couple of months.

Bull traps in H2 2013 above 50 and 200 day moving averages imply fresh downside acceleration is imminent.

Only back above 50 day moving average at $1,407 delays the downside scenario.

Copper:  200 Day Moving Average Break – Possible Positive Trend Change

Likelihood of at least an intermediate follow through on the upside after the latest 200 day moving average break at $3.26.

Implied April rising trend channel target as high as $3.60 over the next couple of months.

Only sustained price action below former September $3.20 zone support upsets the recovery argument.


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