Metals Edge

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Metals Edge is a new Blue Line Futures product developed for Swing and Long-Term Traders. It will focus on Gold and Silver specifically and attempt to identify trend changes, entry and exit points, seasonal tendencies, and option strategies.

Today’s Outlook
US Equities rebounded sharply from their worst week since April as market participants shrugged off volatility in the U.S. presidential election and focused on buying up risk assets. The rise in Stocks suppressed the chances of a July interest rate cut down to 2.6%. Concerns about the Chinese economy and the details surrounding an economic recovery painted a sour picture for commodities such as Copper, Crude Oil, and Platinum. U.S. Agricultural products snapped back with an explosive rally, and chatter around a new Ethereum ETF caused volatility in the crypto space.

Today’s Economic Focus
Existing Home Sales – Forecast 3.99M Previous 4.11M

(a leading indicator of economic health)

Richmond Manufacturing Index – Forecast -7 Previous – 10

(Above 0 indicates improving conditions, below indicates worsening conditions)

Today’s Tactical Support & Resistance Levels
Levels are created using an algorithmic proprietary price, volume, and volatility model

Gold

Technicals (August)
Gold futures continue to consolidate $2400/oz as traders digest news from U.S. politics, the Fed, the direction of the Dollar, and the bounce back in two-year treasury yields. Gold Futures on Monday traded in a $29 range with a high of 2414 and a low of 2385 and settled at 2398.2

If the bulls cannot defend 2400, futures will likely trade down to the 50 DMA at 2375.

Daily Stochastics continue to correct from overbought territory, while DMI + converges with DMI -, leaving the market still on shakey grounds. The 14-day average true range is 36.6, and our Trend Neutralizer level is 2385.6.

For Swing Traders

  • Bias: Neutral/Bullish
  • Resistance: 2448.4-2450.0, 2488.4**
  • Pivot: 2400 (Psychological), 2375 (50 DMA)
  • Support: 2375, 2358.6 (Bull Trend Neutralizer)

Below is a Daily chart of August Gold futures

Silver

Technicals (September)
Futures saw pressure from outside markets, such as Copper, and further deterioration in the Chinese economy. China laid out an economic plan for a recovery but lacked the details traders were looking for. Silver Futures traded in a 68-cent range with a high of 29.61 and a low of 28.93 and settled at 29.31, near unchanged. The impact of being 54% an industrial metal and disconnect from the Gold market has pushed the Gold/Silver ratio back to 82:1. With a Neutral trend from our Trend Discovery System, it will take a move above 31.56 to capture a bullish trend, while a close below 28.96 enters a new Bear market.

Daily Stochastics are correcting from overbought territory, while DMI – is attempting to cross above DMI +. Often, a negative crossover sets the stage for a larger correction. The 14-day average true range is 94 cents.

For Swing Traders

  • Bias: Neutral
  • Resistance: 30.45* (50 DMA), 31.56**
  • Pivot: 30.00
  • Support: 28.96*** (Bear Trend Trigger), 28.92, 28.62

Below is a daily chart of September Silver futures

To receive the Metals Edge every trading day after the first week of this publication, please send an email to info@BlueLineFutures.com or call 312-278-0500

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500



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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

Performance Disclaimer

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results all of which can adversely affect actual trading results.

Research Disclaimer

All information, communications, publications, and reports, including this specific material, used and distributed by Blue Line Futures LLC shall be construed as, or is in the nature of, a Solicitation for entering into a futures transaction. Blue Line Futures LLC does not employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.

Seasonal Disclaimer

This message and its content is intended only for the person or entity to which it is addressed and should not be shared with additional parties. Seasonal tendencies are a composite of some of the most consistent commodity futures seasonals that have occurred in the past several years. There are usually underlying, fundamental circumstances that occur annually that tend to cause the futures markets to react in similar directional manner during a certain calendar year even if a seasonal tendency occurs in the futures, it may not result in a profitable transaction as fees and the timing of the entry and liquidation may impact on the results. No representation is being made that any account has in the past, or will in the futures, achieve profits using these recommendations. No representation is being made that price patterns will recur in the future.

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