{"id":13153,"date":"2017-09-07T12:10:35","date_gmt":"2017-09-07T20:10:35","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=13153"},"modified":"2017-09-07T23:55:44","modified_gmt":"2017-09-08T07:55:44","slug":"rollover-notice-gold-chart-commentary-levels-friday-9-8-17","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/rollover-notice-gold-chart-commentary-levels-friday-9-8-17\/","title":{"rendered":"Rollover notice, Gold Chart and Commentary + Levels for Friday 9.8.17"},"content":{"rendered":"
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____________________________________________________________<\/em><\/strong><\/p>\n

Voted #1 Blog and #1 Brokerage Services on\u00a0TraderPlanet\u00a0<\/a>for 2016!!\u00a0<\/em><\/strong><\/p>\n

_____________________________________________________________<\/em><\/strong><\/p>\n

Gold is making a move and Rollover day!<\/p>\n

Rollover Notice:<\/p>\n

Rollover Notice for Stock Index Futures<\/p>\n

Important\u00a0Notice:<\/strong> For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones etc., it is extremely important to remember that we are now rolling over and trading the December contract.<\/p>\n

Starting Sept. 8th, the December 2017 futures contracts will be the front month contracts. It is recommended that all new positions be placed in the December 2017 contract as of September 8th. Volume in the Sept. 2017 contracts will begin to drop off until its expiration on\u00a0Friday\u00a0Sept. 15th.<\/p>\n

The month code for December is Z7.<\/p>\n

Traders with electronic trading software should make sure that defaults reflect the proper contract as of Friday morning.<\/p>\n

Please close any open June Currency positions by the close on Friday the 15th.<\/p>\n

Gold chart and commentary:<\/p>\n

Many analysts see a major shift happening in the gold market with gold advancing and holding\u00a0rather\u00a0comfortably above a key psychological level of $1,300.00 an ounce<\/p>\n

<\/p>\n

Frustration seems to be growing with the most recent\u00a0STRIKE\u00a0string of congressional capitulations on the debt ceiling debate and America’s “credit card balance” expanding to ever newer and higher levels. The yellow metal\u00a0seems to be benefiting from political deadlock and Washington hand-wringing.<\/div>\n

This political backdrop may also be influencing one of the key drivers in the price of gold, namely the US Dollar index and its recent move to the downside.<\/p>\n

From April of this year, the US Dollar index has fallen from\u00a0$1.01 levels down to below\u00a0.92Cents\u00a0and appears to continue to be under pressure.<\/p>\n

Could this indeed mean a significant inflection point for gold and herald a continuing move to the\u00a0upside?\u00a0 Only time will tell us for sure.<\/p>\n

However, some interesting technical markers and\u00a0short to intermediate term\u00a0trends may be derived from the gold chart below; \u00a0begging the question “Is this breakout creating significant inertia to break out of its range bound state signaling a long term trend?.”<\/p>\n

Cannon Trading \u00a0Company’s experienced commodity futures brokers in Beverly Hills are available to work with current clients and with new interested individuals and institutions to explore the possibilities in utilizing the futures markets to potentially capture some of the upcoming gold price action. In addition to exploring outright futures contract positions in gold and explaining the potential market risks involved, Cannon Trading’s brokers may also suggest and explore gold options plays and configurations including option spreads with gold and other commodities. Despite the excitement that the recent gold “surge” may invoke, one must keep in mind that these are risky markets and only risk capital ca n be used. In addition, regardless of the market, past performance is not necessarily indicative of future results.<\/p>\n

\"\"<\/p>\n<\/div>\n

Good Trading<\/strong><\/p>\n

\n

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0 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.<\/p>\n

Futures Trading Levels<\/strong><\/p>\n

9-08-2017<\/p>\n<\/div>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Contract December 2017<\/td>\n\u00a0SP500<\/td>\nNasdaq100<\/td>\nDow Jones<\/td>\nMini Russell<\/td>\nDollar Index<\/td>\n<\/tr>\n
Resistance 3<\/td>\n2479.42<\/td>\n6038.50<\/td>\n21906<\/td>\n1416.37<\/td>\n92.89<\/td>\n<\/tr>\n
Resistance 2<\/td>\n2473.08<\/td>\n6010.00<\/td>\n21854<\/td>\n1410.43<\/td>\n92.56<\/td>\n<\/tr>\n
Resistance 1<\/td>\n2470.17<\/td>\n5989.25<\/td>\n21800<\/td>\n1405.17<\/td>\n92.04<\/td>\n<\/tr>\n
Pivot<\/td>\n2461.83<\/td>\n5960.75<\/td>\n21748<\/td>\n1399.23<\/td>\n91.71<\/td>\n<\/tr>\n
Support 1<\/td>\n2456.92<\/td>\n5940.00<\/td>\n21704<\/td>\n1393.97<\/td>\n91.18<\/td>\n<\/tr>\n
Support 2<\/td>\n2450.58<\/td>\n5911.50<\/td>\n21652<\/td>\n1388.03<\/td>\n90.85<\/td>\n<\/tr>\n
Support 3<\/td>\n2445.67<\/td>\n5890.75<\/td>\n21608<\/td>\n1382.77<\/td>\n90.33<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nDecember Gold<\/td>\nDec. Silver<\/td>\nOct. Crude Oil<\/td>\nDec.\u00a0 Bonds<\/td>\nSept.\u00a0 Euro<\/td>\n<\/tr>\n
Resistance 3<\/td>\n1378.2<\/td>\n18.66<\/td>\n50.14<\/td>\n159 15\/32<\/td>\n1.2232<\/td>\n<\/tr>\n
Resistance 2<\/td>\n1366.9<\/td>\n18.44<\/td>\n49.73<\/td>\n158 23\/32<\/td>\n1.2148<\/td>\n<\/tr>\n
Resistance 1<\/td>\n1359.9<\/td>\n18.31<\/td>\n49.44<\/td>\n158\u00a0 5\/32<\/td>\n1.2086<\/td>\n<\/tr>\n
Pivot<\/td>\n1348.6<\/td>\n18.09<\/td>\n49.03<\/td>\n157 13\/32<\/td>\n1.2003<\/td>\n<\/tr>\n
Support 1<\/td>\n1341.6<\/td>\n17.96<\/td>\n48.74<\/td>\n156 27\/32<\/td>\n1.1941<\/td>\n<\/tr>\n
Support 2<\/td>\n1330.3<\/td>\n17.74<\/td>\n48.33<\/td>\n156\u00a0 3\/32<\/td>\n1.1857<\/td>\n<\/tr>\n
Support 3<\/td>\n1323.3<\/td>\n17.61<\/td>\n48.04<\/td>\n155 17\/32<\/td>\n1.1795<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Contract<\/td>\nDec.\u00a0 Corn<\/td>\nDec. Wheat<\/td>\nNovember Beans<\/td>\nDec. SoyMeal<\/td>\nOct. Nat Gas<\/td>\n<\/tr>\n
Resistance 3<\/td>\n363.8<\/td>\n453.8<\/td>\n985.67<\/td>\n311.77<\/td>\n3.08<\/td>\n<\/tr>\n
Resistance 2<\/td>\n361.9<\/td>\n449.9<\/td>\n981.08<\/td>\n310.73<\/td>\n3.05<\/td>\n<\/tr>\n
Resistance 1<\/td>\n358.6<\/td>\n443.6<\/td>\n974.92<\/td>\n308.97<\/td>\n3.02<\/td>\n<\/tr>\n
Pivot<\/td>\n356.7<\/td>\n439.7<\/td>\n970.33<\/td>\n307.93<\/td>\n2.99<\/td>\n<\/tr>\n
Support 1<\/td>\n353.3<\/td>\n433.3<\/td>\n964.2<\/td>\n306.2<\/td>\n3.0<\/td>\n<\/tr>\n
Support 2<\/td>\n351.4<\/td>\n429.4<\/td>\n959.58<\/td>\n305.13<\/td>\n2.93<\/td>\n<\/tr>\n
Support 3<\/td>\n348.1<\/td>\n423.1<\/td>\n953.42<\/td>\n303.37<\/td>\n2.89<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

Economic Reports, source:\u00a0<\/strong><\/p>\n

http:\/\/app.bettertrader.co<\/a><\/strong><\/p>\n

\"\"<\/p>\n

This is not a solicitation of any order to buy or sell, but a current market view provided by\u00a0Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, 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\u00a0judgement\u00a0in trading.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

____________________________________________________________ Voted #1 Blog and #1 Brokerage Services on\u00a0TraderPlanet\u00a0for 2016!!\u00a0 _____________________________________________________________ Gold is making a move and Rollover day! Rollover Notice: Rollover Notice for Stock Index Futures Important\u00a0Notice: For those of you trading any stock index futures contracts, i.e., the E-mini S&P, E-mini NASDAQ, E-mini Dow Jones etc., it is extremely important to remember that […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[350,144,979,404],"class_list":["post-13153","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","tag-economic-reports","tag-futures-trading-levels","tag-gold-chart","tag-rollover-notice"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/13153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=13153"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/13153\/revisions"}],"predecessor-version":[{"id":13156,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/13153\/revisions\/13156"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=13153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=13153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=13153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}