Gold spent most of the week consolidating, while silver continued to push higher…
Silver is traditionally more volatile than Gold so be ready for some wild moves in the near term if you are a silver trader. I expect to see gold continue to consolidate between 560 and 540. Silver on the other hand I see pulling back near term. A test of support at $10.00 would be the first downside target, after that I do expect to see it follow through until finding strong support near 925 -950. Copper broke out to the upside and is likely to begin a new uptrend. If going long stops should be started out below 230 and then trailed with the daily lows with a 2 day lag. Platinum is building a large coil pattern and I expect big moves from this market are coming soon. Palladium continues to try and catch up with the rest of the group and a move towards 340 seems likely next week. Derek Frey 3/17/2006
Derek Frey
Odom & Frey Futures & Options
www.odomandfrey.com
derek@odomandfrey.com
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