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Gold is Sitting on Decision Junction 1.20.2017

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   Volatility in many markets has been extremely low!! Stock index futures especially. I really don’t have an explanation…bit odd but as I mentioned over this blog many times before, it is a cycle. Neither low volatility, nor high volatility can last for ever. It is like a compressed spring that eventually has to expand….So be ready when volatility changes and the trading environment changes accordingly.

 ** Chart of gold futures below for your review. Gold is sitting on a decision point. It bounced very nicely off the lows made back on Dec. 15th and backed off resistance at 1218. The longer term trend is down, however the immediate trend is up….Should provide for some interesting price action!

Gold Futures 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.

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Futures Trading Levels

Levels for Trade Date of 01.20.2017

Contract March 2017 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2285.17 5108.58 19901 1382.73 102.33
Resistance 2 2277.33 5091.67 19830 1372.87 102.02
Resistance 1 2268.67 5070.33 19750 1359.13 101.57
Pivot 2260.83 5053.42 19679 1349.27 101.26
Support 1 2252.17 5032.08 19599 1335.53 100.82
Support 2 2244.33 5015.17 19528 1325.67 100.51
Support 3 2235.67 4993.83 19448 1311.93 100.06
Contract Feb. Gold March Silver Mar. Crude Oil Mar. Bonds March   Euro
Resistance 3 1219.7 17.56 53.48 153 10/32 1.0805
Resistance 2 1213.0 17.34 53.08 152 18/32 1.0753
Resistance 1 1208.7 17.18 52.62 151 24/32 1.0717
Pivot 1202.0 16.96 52.22 151 1.0664
Support 1 1197.7 16.80 51.76 150 6/32 1.0628
Support 2 1191.0 16.58 51.36 149 14/32 1.0576
Support 3 1186.7 16.42 50.90 148 20/32 1.0540
Contract March Corn March Wheat Mar. Beans March SoyMeal Feb. Nat Gas
Resistance 3 373.0 431.7 1086.58 357.20 3.54
Resistance 2 370.3 429.8 1081.92 354.20 3.47
Resistance 1 368.3 426.7 1076.08 351.20 3.39
Pivot 365.5 424.8 1071.42 348.20 3.33
Support 1 363.5 421.7 1065.6 345.2 3.2
Support 2 360.8 419.8 1060.92 342.20 3.18
Support 3 358.8 416.7 1055.08 339.20 3.10

All times are Eastern time Zone (EST)

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

Date 3:49pm Currency Impact Detail Actual Forecast Previous Graph
FriJan 20 2:00am EUR
German PPI m/m
0.4% 0.3%
Day 4 ALL
WEF Annual Meetings
4:30am GBP
Retail Sales m/m
-0.1% 0.2%
9:00am USD
FOMC Member Harker Speaks
Tentative USD
President-Elect Trump Speaks

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   | Futures Trading  

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