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Support & Resistance Levels

This Blog provides futures market outlook for different commodities and futures trading markets, mostly stock index futures, as well as support and resistance levels for Crude Oil futures, Gold futures, Euro currency and others. At times the daily trading blog will include educational information about different aspects of commodity and futures trading.

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GOLD WATCH Part 2

By John Thorpe, Senior Broker
Last Wednesday on this Blog I highlighted the Gold market as a potential candidate to rally and has continued to.
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*
Gold Futures Daily Chart
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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 when it comes to Futures Trading.

Futures Trading Levels

04-19-2022

Support and Resistance Levels 4.18.2022

 

 

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Economic Reports, Source: 

Forexfactory.com

ForexFactory.com

 

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.

Posted in: Future Trading News   | Gold Futures   | Metal Futures  
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