Gold Futures Outlook Part 2 & Support and Resistance Levels 4.19.2022
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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GOLD WATCH Part 2
By John Thorpe, Senior Broker
From a technical perspective Gold Futures
does look ready to test recent highs. there was clearly excitement today during the Hong Kong session and then again, follow through buying during the London session with todays high peaking at 9 a.m. NY time @2003.00 per troy ounce before retreating back during the London session to close up on the day but near the lower end of the days trading range.
IN MY OPINION, Today’s Globex session appears
to tell the tale of a short term reversal as “Gravestone Doji ” inks the chart today signifying the potential to move this market back into the 1940.00 area the next few days, still staying above critical support of 1920.00 .
A correction could put us in a better position to hold longs closer to support potentially risking less of our capital.. Keep an eye on this market as it is truly ready for a large move one way or the other.
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Posted in: Future Trading News | Gold Futures | Metal Futures