February Gold – Gold fell the most in six months after posting its highest close on the January 3rd reversal date. Gold was pressured by speculation that a global recovery will curb demand for the metal as a haven asset. The price action is the same as Silver, so I would also expect to see… read more
Tag Archives: Trading News
Swing Trading Strategies – Silver Peaks on Projected Reversal Date! What’s Next? [chart]
March Silver – The January 3rd reversal date triggered a significant reversal after March Silver futures posted a new multi-year high on Monday, January 3, 2011. Tuesday’s session began with a lower gap opening and the market continued to fall under heavy selling pressure, dropping $1.80 before making a slight rebound into the close. This… read more
Grain News and Opening Calls / Futures Broker
WHEAT – Down 1 to 2 cents per bushel. Profit-taking after CBOT wheat rally to five-month highs and as high-protein KCBT and MGEX wheats rose to two-year highs due to deterioration of Australia’s crop amid excessive rainfall and flooding and on dryness in the U.S. Plains HRW wheat area. * Australia wheat quality slumps in… read more
Opening Grain Calls and News / Futures Broker
WHEAT – Up 18 to 20 cents per bushel. Flooding in global wheat producer and exporter Australia boosting prices to a five-month high. ** Bitter cold temperatures over the weekend in the U.S. Plains hard red winter wheat area likely caused little to no harm to the crop as a blanket of insulating snow covered… read more
Swing Trading Strategies – “Action/Reaction” setting up potential sell pattern in N-gas. [chart]
February Natural gas has been trading higher, after bouncing off the descending median line. The eight-day rally advanced Natural gas into the December 28th reversal date, setting up a potential bearish reaction swing. However, the December 28th reversal date failed to trade above the prior high–needed to set up the sell pattern. The following day–Thursday, December 29th–did… read more
Futures news – U.S. Crude oil stocks down again this week.
NEW YORK, Dec 30 (Reuters) – U.S. crude oil inventories fell less than expected last week as refinery utilization rose, according to a weekly report from the Energy Information Administration on Thursday. Domestic crude stocks dropped by 1.26 million barrels to 339.43 million barrels in the week to Dec. 24, the report showed, against expectations… read more
Futures news – Initial Jobless claims drop 34,000 last week
WASHINGTON, Dec 30 (Reuters) – New U.S. claims for jobless said hit their lowest level in more than two years last week and factory activity in the Midwest grew in December at its fastpace since 1988, evidence the recovery was gaining steam. Views economic activity accelerated in the fourth quarter were hardened by another report… read more
Swing Trading Strategies – How to use the Median line for a low-risk entry. [chart]
One on the most useful median line trading principles comes into play after the market trades through and closes beyond the median line. This is an indication of strength and it also identifies a low-risk entry point to allow traders to get on broad, if they missed the initial price move, or wish to add to existing… read more
Futures news – Opening call for Grains.
WHEAT – Down 2 to 3 cents per bushel. – Profit-taking is expected after Tuesday’s rally peaked around $8 a bushel. Poor condition of Australian crop continue to support the Wheat market. CORN – Down 1 to 2 cents per bushel. – A setback can be expected following the nine-session winning streak in which prices hit highest… read more
Treasury Yields Pressure Dollar – Trading news
Daily Report: Dollar Sharply Lower after Solid 2-Year Notes Demand, More Bond Auctions ahead. The U.S Dollar is trading sharply lower this week, with particular weakness in USD/JPY. The dollar weakness is primarily coming from falling treasury yields. Yesterday’s auction of $35b 2-year notes in US attracted solid demand, with bid-to-cover ratios at 3.71 times,… read more