Friday’s trades
GC – April contract. 30-minute bars.
Sell: $1251.47-$1252.50
Keyline: $1249.05-$1247.70
Buy: $1239.20-$1238.70
Friday was the last day of trading for the April contract in gold and traders were moving to the next active contract (June) throughout the day.
Volume in the April contract was light, but the price roughly matched the action in the more heavily-traded June contract, although June was trading about $4 per ounce higher.
Overnight traders had a clear entry at Nat’s buy level overnight, and an equally clear exit at the Keyline area at the end of the day, a move worth about $350 per contract.
Subscribers to the live trade room had a less-obvious entry, and needed to be nimble to capture the full move. There was no drawdown and the trade was fairly straightforward. No real surprises after the initial sharp rally off the day session open
The April contract has expired, and we are now trading the June contract.