We have been using the CSI Perpetual Contract.
Friday that showed:
Future #867 GC21103P: Perpetual Contract® of Gold-COMEX(Floor+Electronic Combined), Future #867 GC21103P:
20130419, 201308, 1396.1, 1425.1, 1388.4, 1397.2
Future #868 SI21103P: Perpetual Contract® of Silver-COMEX(Floor+Electronic Combined),
20130419, 201307, 2336.5, 2384.0, 2299.7, 2304.1, 2304.2
The great difference between the time used for the open outcry and the GLOBEX and their bending of the two with closing before 5.15, is too confusing for people to use. We are recalculating all data ourselves using the difference from the spot to the nearest futures to capture the full trading range. Using this method, the 1980 high which took place when the market was locked limit up, produces the full high of $875 rather than $850.
We will provide the full details. But the number we provided this morning are the nearest futures including GLOBEX until 5:15.
Basis the CSI, the reversals are elected so we will rally back first before retesting support.
Based on GLOBEX, the numbers were not elected. This divergence is too great so we will recalculate using numbers more easily accessible.