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Here are my comments on my open positions based on the day’s price action.
QO – Mini Gold
Trade: Long 1 contract of Jun Mini Gold
Entry Price: $1,230
Risk: stop moved to $1,242.50 risking $0
Target: $1,600
Daily Comment: Gold broke down sharply today trading down to the 15 SMA and posting a bearish full bodied candle.
SB - Sugar
Trade: Long 2 contracts of July Sugar
Entry Price: 16.05
Risk: 15.48 risking $1,277
Target: 18.42
Daily Comment: Sugar opened lower trading down to the 40 SMA before reversing strongly and rallying back up through the 61.8% retracement level. Sugar closed off the highs posting a candle with an upper shadow.
Can you help answer these questions from other members on NexusFi?
Here are my comments on the opportunities I’m watching based on the day’s price action.
CL – Crude Oil
Oil was higher during the overnight session trading up to the 200 SMA but reversed strongly during the session closing below the short term moving averages and posting a bearish candle.
KC - Coffee
Coffee gapped higher on the open before trading down to the 15 SMA and filling the gap. Prices closed strongly rallying back up to the 200 SMA.
Here are my comments on my open positions based on the day’s price action.
QO – Mini Gold
Trade: Long 1 contract of Jun Mini Gold
Entry Price: $1,230
Risk: stop moved to $1,242.50 risking $0
Target: $1,600
Daily Comment: Gold bounced off the 15 SMA today closing higher and posting a bullish full bodied candle.
SB - Sugar
Trade: Long 2 contracts of July Sugar
Entry Price: 16.05
Risk: 15.48 risking $1,277
Target: 18.42
Daily Comment: Sugar was sharply higher today closing above the 61.8% retracement of the contract high and low for the first time and posting a bullish full bodied candle on strong volume. This level has been strong resistance previously and confirmation is still required to confirm a break of this level.
Here are my comments on the opportunities I’m watching based on the day’s price action.
CL – Crude Oil
Oil was higher today on the back of a bullish storage report and closed just above the 200 SMA. Prices are still trading within the recent range at this stage.
KC - Coffee
Coffee continued its move higher today retesting the 200 SMA during the session but bouncing strongly from this level to close higher. I am looking for prices to surpass the 61.8% retracement of the recent range at $1.3083 before entering a Long position.
A small gain today with gains in Sugar offset by losses in Gold.
Here are my comments on my open positions based on the day’s price action.
QO – Mini Gold
Trade: Long 1 contract of Jun Mini Gold
Entry Price: $1,230
Risk: stop moved to $1,242.50 risking $0
Target: $1,600
Daily Comment: Gold fell back to the 15 SMA today.
SB - Sugar
Trade: Long 2 contracts of July Sugar
Entry Price: 16.05
Risk: 15.48 risking $1,277
Target: 18.42
Daily Comment: Sugar was lower during the overnight session but rallied strongly into the close to consolidate the break above the 61.8% retracement of the contract high and low posting another bullish full bodied candle.
Here are my comments on the opportunities I’m watching based on the day’s price action.
CL – Crude Oil
Oil continued higher today but finished off the highs posting a candle with an upper shadow.
KC – Coffee
Coffee briefly traded up to 61.8% retracement of the recent range before reversing. Prices rallied into the close to finish the day slightly higher and post a candle with a lower shadow.
