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Golden Opportunity?
The Gold market has essentially traded sideways within a range from approximately $1200 – $1300 all of 2017. The same factors that faced this market in January still influence the price today. Global macro-economic uncertainty, central bank interest rate decisions and a see-saw of “risk on, risk off” sentiment continue to keep Gold in a $100.00 trading range. However, recent events domestically and abroad have allowed Gold to climb towards the break out area of $1300.00 – $1310.00 per ounce. A clearly defined channel such as shown below opens a variety of trading opportunities for those looking for a return to the bottom of the channel or a surge in price above the year’s highs. Technicians look prepared to jump on board if those areas are breached.
For additional information and risk parameters please contact Mitch LaRocca @ 972-387-0080 or mitch@dallascommodity.com
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This material has been prepared by a sales or trading employee or agent of Dallas Commodity Company and is, or is in the nature of, a solicitation. This material is not a research report prepared by Dallas Commodity Company's Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.
The risk of loss in trading commodity futures contracts can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. You may sustain a total loss of the initial margin funds and any additional funds that you deposit with your broker to establish or maintain a position in the commodity futures market.