Gold Still Set Up
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
June gold
(
GCM1 |
Quote |
Chart |
News |
PowerRating) (or August if you prefer) tailed lower but reversed to
close well. This action suggests that it still has the potential to rally out of
a pullback. Continue to look for a buying
opportunity here.
The June Canadian Dollar
(
CDM1 |
Quote |
Chart |
News |
PowerRating) rallied off of the 50% retracement level
from its uptrend from major lows. This action suggests it has the potential to
continue its rally out of a cup and handle.
Best of luck with
your trading on Wednesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!