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Gold Prices Lower For Trading Week


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Gold Futures--- Gold futures in the December contract settled last Friday in New York at 1,296 while currently trading at 1,287 down about $9 dollars for the trading week as I've recommended a bullish position from around the 1,292 level and if you took the trade place to stop loss under the 10 day low standing at 1,269 as the chart structure remains excellent at the present time.

The U.S dollar has dropped about 120 points over the last 2 trading sessions which has had very little influence on gold prices which is very surprising in my opinion as I'm also recommending bullish positions in silver and platinum as the same situation has occurred in those markets as well, but I will continue to place the proper stop loss as the chart structure will improve in 3 trading sessions therefore lowering the monetary risk to around the 1,275 level.

If you have read my previous blogs you understand that I am bullish the commodity markets as crude oil hit another contract high today and has been the leader over the last several weeks as I still think gold prices will crack the 1,300 level as this was a short holiday trading week with light volume as next week that situation will change.

I you are not involved I would still recommend this trade at today's price levels risking around $2,000 per large contract or $700 per mini contract plus slippage & commission.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY---INCREASING

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery

TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

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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