Metals Edge – Metals Sector Analysis
$1851 in #Gold: We talked about it yesterday, it had to hold support and it did!
Using a #Fibonacci retracement, and connecting the contract high to the triple bottom, we see today’s action reach the 38.2% retracement, and it could be looking at $1900.
#Platinum is a little disappointing but we would be looking to enter longs at this current up trendline, as price action pulls back into it.
#Copper broke support, Stochastics are rolling over, all potential signs that it could be headed lower. Copper does have a seasonality to it, looking to purchase November and sell in December (Tune in for the exact dates!)
Dollar Index made a new high last night, but failed to perform today. (We do believe this had something to do with the inflation numbers in the UK)
Which currencies make up the weighting of the Dollar Index?
Tune in to see how we are playing the SPR release in Crude Oil, what is going on in #NatGas, #Soybeans and more!
Email info@Bluelinefutures.com or call 312-278-0500 with any questions — our trade desk is here to help with anything on the board!
#silver #gold #platinum #copper #silversqueeze #dollar #inflation #commodities #trading #futures #currencies
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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