Less Glitter In Gold?
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.
August feeder cattle (FCQ1),
mentioned Tuesday night, still looks poised to continue its strong
uptrend out of its first pullback. Continue to look for a buying
opportunity here.
Once again, August gold (GCQ1)
continues to form a narrow range consolidation at low levels. Watch
for a shorting opportunity on any
continuation
of its melt down.
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July cocoa (CCN1)
appears to be stalling out in a pullback from lows. Look for a
shorting opportunity here.
The VIX
remains at relatively low levels. Therefore, for the nimble, continue
to watch for shorting opportunities in the June (or September) index
futures.Â
Best
of luck with your trading on Thursday!
P.S. Reminder: Protective
stops on every trade!
