Gold has been trending sideways, currently down about $3.00 per troy oz. from last Friday at $1,123.7 (Z5) per troy oz. However Silver edged slightly higher, up about .22 cents from last Friday currently sitting at $14.66 (Z5).
The dt Futures Blog is a great place to learn about commodity futures trading and investing. Insightful educationally-focused articles on topics ranging from choosing a futures broker to commodities trading strategies and risk management are published frequently.
In last night’s Swing Trader’s Insight I labeled the EMini S&P futures as a Taylor Trading Technique Sell short day. As long time readers know, I suggest we trade the stock index futures during the stock market hours (beginning at 8:30 AM CT) and that we can use overnight highs and lows in lieu of the previous day high and low that the TTT normally uses for the reference price.
The Gold chart is showing a compelling formation. There appears to be a double bottom giving the December Gold support at around 1117.00.
Nothing about the commodity markets of late have been seasonal. The selling we have seen in crude oil, the stock market, the dollar, heck- even soybeans, has not been seasonal.
The recent down trend in stock index futures made Taylor Trading Technique signals less obvious. Sticking to a more mechanical cycle count can facilitate trading in these markets.
In our “Get to Know Your Broker” article series, Mark Hendershott discusses his background, favorite markets, talents and more!
Daniels Trading Senior Broker and author of Turner’s Take newsletter Craig Turner was quotes in the August 20th, 2015 Dow Jones Newswire article titled “US Grain, Soybeans Swing Higher on Crop Outlook, Quality Concerns” by Jesse Newman of the Wall Street Journal.
I am looking for this triple bottom to hold once again while risking 1.50 just under the most recent low points.
The EMini S&P had an NR7 day (narrowest trading range of the previous seven sessions) on Tuesday. This pattern told us to anticipate a breakout move today, which gave us a good trade opportunity this morning.
Platinum is a relatively rare, chemically inert metallic element that is more valuable than gold. Platinum is a grayish-white metal that has a high fusing point, is malleable and ductile, and has a high electrical resistance.