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.
*Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this blog are of opinion only and do not guarantee any profits.
These are risky markets and only risk capital should be used. Past performance is not indicative of future results*
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Futures Trading Levels
04-19-2022
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Posted in: Future Trading News | Gold Futures | Metal Futures
