Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

August Gold/Bumping Resistance *PIC*

Aug Gold is bumping up against its broken 3 year uptrendline that failed to hold in April. It would take a lot to clear and hold above such a serious breakdown level. If price can hold above $1616 which is the April low support that broke down in May and was re- cleared Friday and then even just consolidate sideways, that would be a good sign it will re-clear this broken uptrendline resistance line in the near future. Right now the odds are against this occurring.