May 04 | Will gold futures hang on for another rally?

Daily Trader Talk Newsletter

Hey Trader,

It's been a bumpy ride for the market today, as a significant sell-off impacted all three major indexes. But Josh has his eye on gold, which could benefit from a change in market sentiment. Right now, gold futures (GC) are holding at their current support level. If the market can stay above the top side of the channel, we could see some opportunities to buy into GC. Remember that investors like to use gold to hedge against market downturns like we've seen today. Follow Josh as he walks through the current price trend in the gold futures market and looks for a chance to buy into a possible bullish rally.

THE NEWS DESK

Markets tumble as investors dump Big Tech What's causing the sudden drop in the market? Digital currencies soar as market lags behind It's been a really weird day for Wall Street The bad news behind the government's stimulus efforts Inflation is in the news again. But what does the stimulus have to do with it?

Once you get started, I almost guarantee you'll be hooked! That's because Gold Futures is like a shortcut to massive profits. Hey, last time I spotted an opportunity like this one… I was able to turn an initial deposit investment of $500 into $39,282! And my indicators are going haywire once again. This time with GOLD. Take a look at this chart. It will blow your mind.

WORDS TO TRADE BY

"Every once in a while, the market does something so stupid it takes your breath away." -Jim Cramer It may sound cliché, but you should trust your gut when you're unsure about a trade. Jim is spot on in his assessment of the market's ability to pull a "hold my beer" move when you ask, "can this get any weirder?" As we've said here many times, the market acts institutionally at the hands of thousands of players. It's the financial equivalent of a herd of cows losing their minds and stampeding after getting spooked by a prairie dog. Once the majority goes into a panic, the show's over. That's why you should trust your instincts when you see a trend developing. But make sure the data backs up your gut feeling! Keep Trading,

Hypothetical or Simulated Results Our educational products rely upon hypothetical or simulated performance results. These results have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

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