Gold futures have risen since mid-August, with $1900 on the downside and $1975 on the upside. The technical perspective shows momentum studies rising to overbought territories, indicating this may be the beginning of the next bull market. DMI + crossed back above DMI - and the 8-day moving average looks set to recapture the 34-day moving average.
Weaker Economic data
Weaker economic data such as Consumer Confidence, GDP, Jolts, and ADP have all recently supported the case that the Federal Reserve may be done raising rates. While Fed Chairman Jerome Powell remains hawkish, other Fed Members may begin pressuring the Chairman to take a softer market approach.
China Attempts to Support its Economy
Chinese Stimulus may also act as a tailwind for Gold after the PBOC continues attempting to support its economy by cutting reserve requirements on Foreign deposits. This allows citizens to remove excess reserves and purchase safe-haven assets such as Gold and other precious metals.
www.tradingview.com/cme/
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs
Disclaimers
*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.
Weaker Economic data
Weaker economic data such as Consumer Confidence, GDP, Jolts, and ADP have all recently supported the case that the Federal Reserve may be done raising rates. While Fed Chairman Jerome Powell remains hawkish, other Fed Members may begin pressuring the Chairman to take a softer market approach.
China Attempts to Support its Economy
Chinese Stimulus may also act as a tailwind for Gold after the PBOC continues attempting to support its economy by cutting reserve requirements on Foreign deposits. This allows citizens to remove excess reserves and purchase safe-haven assets such as Gold and other precious metals.
www.tradingview.com/cme/
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs
Disclaimers
*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.