Gold Futures: Possible Sell-Off, Technical Setups!
Posted 05-17-2011 at 09:24 PM by fcfutures
5-17-2011 @ 8:06pm CDT.
Fortress Capital has identified a selling opportunity in the June Gold contract. Gold has been consolidating the last two weeks forming a triangle pattern. On 5-17-2011 Gold broke through the bottom trend line of the triangle pattern. With the downward momentum and brake in the trend line we feel this is a good place to look for a short.
Sell June Gold @ 1471.00 Stop
Buy Stop 1497.60
Buy Limit 1425.00
For more updates and recommendations, visit our website: Fortress Capital
DISCLAIMER: There is a substantial risk of loss in trading futures and options; such trading is not suitable for all investors. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction
Fortress Capital has identified a selling opportunity in the June Gold contract. Gold has been consolidating the last two weeks forming a triangle pattern. On 5-17-2011 Gold broke through the bottom trend line of the triangle pattern. With the downward momentum and brake in the trend line we feel this is a good place to look for a short.
Sell June Gold @ 1471.00 Stop
Buy Stop 1497.60
Buy Limit 1425.00
For more updates and recommendations, visit our website: Fortress Capital
DISCLAIMER: There is a substantial risk of loss in trading futures and options; such trading is not suitable for all investors. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed. Fortress Capital, its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction
Total Comments 0
Comments
Total Trackbacks 0
