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Another Leg Up in Gold Futures 2.07.2017

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Nice upside breakout on gold! I included a daily chart for your review below along with support/ resistance levels – possible targets. 

On the other hand, ANOTHER LOW volatility, low volume, “dead action” in stock index futures. The last time I remember this was around summer of 2014 and December of 2013 where the ATR was less than 13 for more than a few days. Both times we witnessed a pretty good sell off following the tight ranges/ low volatility. No one can tell if this is what will happen next as the most famous disclaimer in our industry says: “Past performance is not indicative of future results” ….. 

Gold Daily chart:

GCE - Gold (Globex)Daily Chart, Equalized Active Daily Continuation

GOOD TRADING
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

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Futures Trading Levels

Levels for Trade Date of 02.07.2017

Contract March 2017  SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2304.25 5193.17 20113 1394.53 100.79
Resistance 2 2299.25 5178.33 20067 1387.07 100.51
Resistance 1 2293.50 5169.92 20024 1376.43 100.17
Pivot 2288.50 5155.08 19978 1368.97 99.89
Support 1 2282.75 5146.67 19935 1358.33 99.55
Support 2 2277.75 5131.83 19889 1350.87 99.27
Support 3 2272.00 5123.42 19846 1340.23 98.93
Contract Apr. Gold March Silver Mar. Crude Oil Mar.  Bonds March  Euro
Resistance 3 1259.0 18.15 55.08 152 29/32 1.0890
Resistance 2 1248.3 17.95 54.60 152  9/32 1.0847
Resistance 1 1242.3 17.85 53.86 151 27/32 1.0807
Pivot 1231.6 17.65 53.38 151  7/32 1.0763
Support 1 1225.6 17.55 52.64 150 25/32 1.0723
Support 2 1214.9 17.35 52.16 150  5/32 1.0680
Support 3 1208.9 17.25 51.42 149 23/32 1.0640
Contract March  Corn March Wheat Mar. Beans March SoyMeal Mar. Nat Gas
Resistance 3 371.3 439.1 1052.17 341.87 3.17
Resistance 2 369.3 435.7 1047.33 339.33 3.13
Resistance 1 366.5 429.1 1041.67 336.07 3.09
Pivot 364.5 425.7 1036.83 333.53 3.05
Support 1 361.8 419.1 1031.2 330.3 3.0
Support 2 359.8 415.7 1026.33 327.73 2.97
Support 3 357.0 409.1 1020.67 324.47 2.93

All times are Eastern time Zone (EST)

source:http://www.forexfactory.com/calendar.php

Date 3:35pm Currency Impact Detail Actual Forecast Previous Graph
TueFeb 7 2:00am EUR
German Industrial Production m/m
0.2% 0.4%
2:45am EUR
French Gov Budget Balance
-93.3B
EUR
French Trade Balance
-4.2B -4.4B
3:30am GBP
Halifax HPI m/m
0.2% 1.7%
8:30am USD
Trade Balance
-45.0B -45.2B
10:00am USD
JOLTS Job Openings
5.56M 5.52M
USD
IBD/TIPP Economic Optimism
56.2 55.6
3:00pm USD
Consumer Credit m/m
20.3B 24.5B

This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

Tags: > > Posted in: Future Trading News  

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