Gold futures sold off sharply once again yesterday, with the precious metal plunging through the $1300 per ounce level, to close the trading session for the December contract with a wide spread down candle shedding $14 per ounce on the day.
Option Alert Service Signal New Trade Suggestion
Option Alert Service Signal New Trade Suggestion
Brent crude oil (BNO, quote) traded near $108 on Thursday morning after unexpectedly strong Chinese data suggested rising global demand.
The plunge in gold prices yesterday, rocked the markets with the precious metal shedding over $30 per ounce in the futures market as the big operators finally triggered the move in a classic pump and dump operation.
President Xi Jinping is preparing to attend the BRICS summit as the group is generating new initiatives amid slowing economic growth, observers said.
Oil prices continued to move firmly lower once again in yesterday’s oil trading session with the WTI futures contract for August closing at $102.29 per barrel, and ending with a wide spread down candle as the commodity lost over a dollar per barrel on the day.
In the past couple of days we have seen extreme and unusual price activity in the December gold futures contract with yesterday’s volume exceeding that of Tuesday’s by some distance, but without the requisite move higher.
Option Alert Service Signal New Trade Suggestion Let’s take our more than double profit and exit this morning.
Option Alert Service Signal New Trade Suggestion Let’s take our more than double profit and exit this morning.
