What Makes Gold Move? – Resistance Levels 5.29.2018

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Dear Traders,

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.

Good Trading

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.

Futures Trading Levels

05-30-2018

Contract June 2018  SP500 #ES_F Nasdaq100  #NQ_F Dow Jones  #YM_F Mini Russell #RTY_F BitCoin Index #XBT_F
Resistance 3 2781.08 7120.33 25350 1658.23 8133.17
Resistance 2 2756.42 7063.67 25095 1644.47 7830.58
Resistance 1 2724.33 7003.83 24737 1634.73 7660.43
Pivot 2699.67 6947.17 24482 1620.97 7357.84
Support 1 2667.58 6887.33 24124 1611.23 7187.69
Support 2 2642.92 6830.67 23869 1597.47 6885.10
Support 3 2610.83 6770.83 23511 1587.73 6714.95
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
Resistance 1 1311.5 16.53 67.65 147 1.1694
Pivot 1304.1 16.42 66.73 145 22/32 1.1610
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
Resistance 3 414.2 564.4 1056.75 396.00 3.12
Resistance 2 410.3 556.8 1050.50 391.80 3.06
Resistance 1 405.2 546.7 1040.50 386.00 2.98
Pivot 401.3 539.1 1034.25 381.80 2.92
Support 1 396.2 528.9 1024.3 376.0 2.8
Support 2 392.3 521.3 1018.00 371.80 2.79
Support 3 387.2 511.2 1008.00 366.00 2.71

Economic Reports, source: 

http://app.bettertrader.co 

Economic Reports - Wednesday, May 30th

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   | Metal Futures  

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