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Copper, Gold and Euro update

May 10, 2010 10:30 PM ETGOLD, GLD, FXE, COPX1 Comment
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Copper traded down to 300 and then popped up. We predicted this down move in our VIP futures service. Now it should bounce up a bit more before moving down again. It will probably trade down to the 270-290 ranges before it puts in a bottom

Euro is mounting relief rally and could rally as high as 132, and maybe possibly 133 but will resume its down trend. It is more likely to test 115 than 145 over the next few months and depending on how the outlook is at that point it could be ready for a long term bottom or drop even further
Gold has just traded to within few dollars of its recent highs, if it puts in new high and issues a negative divergence signal or tests its old highs and pulls back immediately, it will be an early warning of a much stronger correction.

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