Gold Prices Lower On Strong Stock Market
Michael Seery of Seery Futures - InsideFutures.com - Tue May 14, 3:26PM CDT

Gold Futures---Gold futures in the June contract traded lower by $4 at 1,297 an ounce still hovering near a 4 week high as I have been recommending a bullish position from around the 1,301 level and if you took that trade continue to place the stop loss at the 1,267 level which is the 2 week low and a 5 month low as if that price is broken there's no reason to be bullish this commodity.

Gold prices are trading above their 20 day & right at their 100 day moving average as the trend has turned higher as there is so much uncertainty out there due to the non agreement between China and the United States on trade as I just think money flows will continue to come into this sector in the short-term.

The volatility in gold will start to expand as I still think if we break the April 10th high of 1,314 there's a possibility we can test the February 20th high of 1,356 as gold is used as a flight to quality and if this trade war continues or even escalates money flows will enter into gold, but not into the rest of the precious metals as they are considered industrial metals which would remain negative as I have a bearish recommendation in the copper market.

TREND: HIGHER

CHART STRUCTURE: IMPROVING

VOLATILITY: AVERAGE

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: 5da1f85979b7117b

TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.