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Did GC rollover to December today?


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#1 risk_management

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Posted 28 July 2017 - 09:08 PM

Seems like it. That's where the volume is and 1275.6 is what continuous contract has as the last price.   Basically stone throw away from ~ 1300 which appears to be line in the sand.

 

What I think is needed for a bull to arrive is to see December rate hike odds collapse.  Once it becomes apparent that the fed is done with raises and is soon on a verge of cutting or implementing similar policy, this sector will run.  And since commodities like to trend, it should run for some time.  How soon will this happen is anybody's guess but I believe this is nothing but a confidence game at this stage.  Maybe one or two bad reports away. 



#2 gannman

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Posted 29 July 2017 - 03:04 AM

makes a lot of sense also been watching the dollar here

 

its 200 week ma is sitting at 92.26 you would think that would give some kind of a bounce


feeling mellow with the yellow metal