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.
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
|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:
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.