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How Low Are Gold Prices Going ?


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Gold Futures--- Gold futures in the December contract are continuing their slow grinding bearish momentum to the downside lower by another $4 at $1,274 an ounce still looking to retest the October 6th low around 1,262 in my opinion as I still think lower prices are ahead.

Gold prices are right near a 3 week low trading under their 20 and 100 day moving average telling you that the short-term trend is to the downside as this is all due to the fact that the U.S dollar is up another 70 points making a 3 month high as that trend is strong to the upside and should continue in the short term as the entire precious metal sector looks bearish except for copper which remains bullish.

At the present time I'm not involved in any of the precious metals as they also look relatively weak as I still think lower prices are ahead & could test the 1,250 level in the coming weeks ahead so avoid this market as the risk/reward is not your favor as the chart structure is not that great at the present time, however I'm certainly not recommending any type of bullish position.TREND---LOWER---CHART STRUCTURE: POOR

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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