Thursday’s Futures Setups
March Gold futures
(
GCG2 |
Quote |
Chart |
News |
PowerRating) powered to
a two-month high early on Wednesday, playing catch-up with silver. March gold
closed higher above its R2 at 283.600
March Silver
(
SIH2 |
Quote |
Chart |
News |
PowerRating) rallied nicely
today. Silver has rallied past its 468.17 R1 point. March Silver is on the Trading
Markets.com Momentum 5 List.
March Wheat
(
WH2 |
Quote |
Chart |
News |
PowerRating) pulled back again
today and closed right around its S1 point at 302.75
March Soybeans
(
SH2 |
Quote |
Chart |
News |
PowerRating) continued
its move upward attempting to penetrate its R2 of 440.17.
March Bean Meal
(
SMH2 |
Quote |
Chart |
News |
PowerRating) rallied and
closed at 148.50 above its R2 point at 147.93
March Australian Dollar
(
ADH2 |
Quote |
Chart |
News |
PowerRating) has
broken above key resistance and is trading at a 10-day high.
|
Contract
|
Setup
|
Direction
|
Trigger
|
| March S&P 500 ( SPH2 | Quote | Chart | News | PowerRating) |
Ascending Triangle |
|
Break above 1174.95 |
| March Dow Jones ( DJH2 | Quote | Chart | News | PowerRating) |
Ascending Triangle |
|
Break above 10242.20 |
| March Sugar ( SBH2 | Quote | Chart | News | PowerRating) |
Cup and Handle |
|
Today sugar broke out higher |
| March Cotton ( CTH2 | Quote | Chart | News | PowerRating) |
Cup |
|
Break above 38.68 |
| March Cocoa ( CCH2 | Quote | Chart | News | PowerRating) |
Flag Pattern |
UP |
Hold above 1353 |
Please note that while there are strong trends in
some commodities, one bar or a series of bars forming a setup can sometimes
indicate a contra move for the next day. This contra move may not be
long-lasting — maybe only for a day or two. Trading with the main trend is
always the highest probability trade.
Use stops on all your
trades.