Gold (June) / Silver (July)
Gold, yesterday’s close: Settled at 2356.5, up 22.0
Silver, yesterday’s close: Settled at 32.137, up 1.638
Gold and Silver futures had a phenomenal start to the week but that momentum is stalling amid softness in the risk environment, U.S. Dollar strength, and a surge in yields. As I spoke in my evening video, I wanted Silver to get above $33 last night and set a new swing high; implying otherwise would be concerning. Here we are now, and what matters as today unfolds is the aforementioned outside market narratives and a constructive repose to support. Silver traveled the furthest to start the week and is clearly the local leader; it must hold out above the shelf created amid yesterday’s early whipsaw, now our first wave of major three-star support at 31.59-31.67.
Bias: Bullish/Neutral
Resistance: 2349-2350.5**, 2356.5***, 2363.7-2365.8**, 2372.2-2375***, 2385.3-2390.2***
Pivot: 2345.9
Support: 2339.2-2341.2**, 2333.8-2335.5**, 2322.5-2325.1***, 2304.6-1212.9***
Silver (July)
Resistance: 32.41-32.55***, 32.72-32.75***, 34.12***
Pivot: 32.05-32.19
Support: 31.89**, 31.59-31.67***, 31.37-31.42***, 31.10-31.15***, 30.83-30.92**, 30.50-30.56***, 30.19-30.27****
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
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.
Gold, yesterday’s close: Settled at 2356.5, up 22.0
Silver, yesterday’s close: Settled at 32.137, up 1.638
Gold and Silver futures had a phenomenal start to the week but that momentum is stalling amid softness in the risk environment, U.S. Dollar strength, and a surge in yields. As I spoke in my evening video, I wanted Silver to get above $33 last night and set a new swing high; implying otherwise would be concerning. Here we are now, and what matters as today unfolds is the aforementioned outside market narratives and a constructive repose to support. Silver traveled the furthest to start the week and is clearly the local leader; it must hold out above the shelf created amid yesterday’s early whipsaw, now our first wave of major three-star support at 31.59-31.67.
Bias: Bullish/Neutral
Resistance: 2349-2350.5**, 2356.5***, 2363.7-2365.8**, 2372.2-2375***, 2385.3-2390.2***
Pivot: 2345.9
Support: 2339.2-2341.2**, 2333.8-2335.5**, 2322.5-2325.1***, 2304.6-1212.9***
Silver (July)
Resistance: 32.41-32.55***, 32.72-32.75***, 34.12***
Pivot: 32.05-32.19
Support: 31.89**, 31.59-31.67***, 31.37-31.42***, 31.10-31.15***, 30.83-30.92**, 30.50-30.56***, 30.19-30.27****
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.