Gold reached 2-year support at 1184, which is a level that has sparked 200-point rallies each of the last two times it was tested. Bulls want to defend 1184 for a shot at 1349 by the end of the year, with scaling points at 12445.0 and 1290.10. Failure to hold 1184 opens up clear air to 1086.
Hang out with PivotBoss as he provides his outlook for the futures market for the month of October! We’ll cover the E-Mini S&P 500, E-Mini NASDAQ 100, Crude Oil, and Gold!
Crude Oil continues to trade within a coiling range, which has a backend measurement of nearly 6 points. Once expansion from this range occurs, we could see a 5-6 point in the direction of the break.
Our Premium Members were privy to another great call Tuesday morning, as we released the following pre-market intraday trade ideas for Gold futures, which net a 9-point winner with perfect precision.
The ES and NQ have both pulled back toward the lower end of their respective ranges, which means another swing buying opportunity could be around the corner.
