Gold Futures Outlook & Support and Resistance Levels 4.13.2022
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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IS GOLD’S Lustrous sheen returning for investors?
By John Thorpe, Senior Broker
, Bonds lower
, Inflation higher: Gold
, after months and years of expecting the price of the metal to gain upward price momentum, the value for investors had been tarnished by the positive returns of high stock prices, Crypto dreams
, property values, Gems and artwork whose own luster may now have reached a short term point of no return. The Easy to Easiest money policies over the past decade have caught up and now it’s time to pay of our economic sins. Perhaps these times, the 2022’s and beyond are the right times for investing in the precious metals
. Please take a look at the Chart where you will see the importance of the 1920.00 area. It was previously the High of multi year consolidations. 5-31-2021 nearly a year removed , the lows of the past two weeks are skimming along the 50 day SMA. If you are a Steve Nison Fan you may also notice the long legged Doji on March 29th just 2 weeks ago.
any long position should be protected under the 1920.00 area as part of your risk management strategy., I will be following this market throughout the summer, please check back for updates and always have an exit strategy that you can employ!
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Posted in: Future Trading News | Gold Futures