What Makes Gold Move? – Resistance Levels 5.29.2018
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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What are the Best Approaches for Long-Term Gold Futures Price Forecasting?
Author: Mark O’Brien, Senior Broker at Cannon Trading Co, Inc.
There is no easy answer to what the best strategy is to predicting price movement in gold futures, much less any other commodity. Given that rather glum starting point, there are approaches that analysts and economists use to forecast prices. One most commonly employed is the use of broad-based commodity indexes – in which prices of food, energy, other metals, lumber, etc. are aggregated to gauge overall commodity price inflation – or the lack thereof.
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Futures Trading Levels
|Contract June 2018||SP500 #ES_F||Nasdaq100 #NQ_F||Dow Jones #YM_F||Mini Russell #RTY_F||BitCoin Index #XBT_F|
|Contract||August Gold #GC_F||July Silver #SI-F||July Crude Oil #CL-F||June Bonds #ZB_F||June Euro #6E_F|
|Resistance 3||1326.2||16.75||69.40||149 3/32||1.1913|
|Resistance 2||1318.8||16.64||68.48||147 25/32||1.1829|
|Support 1||1296.8||16.31||65.90||144 29/32||1.1474|
|Support 2||1289.4||16.20||64.98||143 19/32||1.1390|
|Support 3||1282.1||16.09||64.15||142 26/32||1.1255|
|Contract||July Corn #ZC_F||July Wheat #ZW_F||July Beans #ZS_F||July SoyMeal #ZM_F||July Nat Gas #NG_F|
Economic Reports, source:
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