When the market bounced from the uptrend line, we could expect an upward movement to the up border of a price channel. Now price is in a possible reversal zone formed by the downtrend line, 50.00 resistance level and the up border of the channel. It's short opportunity. When we get a confimed reversal signal, we'll have to open short trades. Stop orders for these...
Gold saw a rise of more than $25 in the week owing to a weakening dollar index due to poor data coming from America and heightened risks in the global equities due to very high indices which seems to be overbought. The rally was more on the back of technical grounds after it bottomed out near $1200, now retracing back according to Fib levels. If gold manages to...
either green cloned lines, or turqoise cloned line first short, then ONLY LONG, maximum comes down to 1.153, then ONLY LONG TP by 2020 , around 2.400 $
GOLD has been a great market this year with its performance for one to to really take advantage and profit from it, a Double top has been clearly formed previously (looks like a M) and there is only one thing that happens with Double tops, for it to proceed lower, looking for GOLD to play back into 1240s Before heading back down and eliminating its low and...
Gold rose over $15 in the past week recovering from a massive fall as it rebounded from its long term support area. This rally was largely on back of dismal data coming from America which pushed the dollar index to new lows thus pulling up the yellow metal prices. Gold climbed back into its trading range of $1215-$1297 as shown in the chart below. Weekly chart is...
Gold crashed over $30 in the past week breaking all supports broadly on account of Hawkish Fed minutes and better than expected data coming out from America. Incremental selling was visible from start of the week and there was no respite for the yellow metal as it continued its downward trend going below its long time support of $1208 but settled a bit higher...
The stage is now set for commodities to produce the long awaited rally. Please do NOT jump in without a trade plan as many entry opportunities will be presented in the coming days. You must wait for them to confirm your trading or investment strategy before pulling your trigger. Patience is virtue!
The medias are talking about a bear market and oil is going to down to $40 per barrel. I think we are already at a turning point.
Setting up a long Silver position on the Daily Chart bouncing off previous resistance. If the Daily candle closes bullish this is a good trade to be in for a couple days. Divergence in RSI and previous days of upward momentum with other commodities play as additional confirmation to enter long for the retracement set-up. Likes, comments, and follows are always...
Technically: Fibonacci retracement level supported by MA which plays role of resistance, overbought RSI not likely to sustain the upward movement, same for MACD and Stoch indicators Fundamentally: Rising OPEC output
3 good reasons why Wheat maybe heading higher. Also MACD is bullish, although RSI is undecided.
Gold staged a stellar recovery from the lows of $1240s to close significantly higher at $1256 adding gains for the week. Gold fell to a 5 week low in the start of the week but managed to plow back the loss as buying at lower levels was clearly visible along with poor data coming out of America which aided the metal to erase the losses. Gold broke the bearish...
Dow Jones Industrials and Commodity Cycles Apologies for this chart. Very sketchy. Tradingview data on CRB index only goes back to 1994 so have had to hand-draw the index in very rough form to try to explain a very obvious but seldom mentioned inverse relationship between stock markets and commodities. It's less apparent in shorter term 10 year data sets (as...
Gold was fairly volatile in a range in the previous week but managed to gain nearly $10. Gold was stuck in a range of $1247 and $1269 as in early part of the week gold tested the bottom of the range whilst tested the high on the later half of the week. Such range bound weeks often indicate loss of direction but this time it was showing bullishness in the prices...
Gold rose nearly $30 in the last week over worries of political uncertainty surrounding U.S president Donald Trump’s election. Gold added incremental gains from start of the week as demand for the metal spurred due to uncertainty clouds. Gold rose from $1226 to a hit a high of $1265 where it found a resistance due to pattern completion of Head and Shoulders before...
Finally Gold trades above the inner downtrend line. Chasing B of the correction leg. Probably at the mid- or outer-trendline
Hey guys, We expect the market to make one leg lower to around 2.445, BUT only when the market stays below the high 2.70. When this level breaks we will be looking at a move higher to around at 2.776. Our intermarket indication supports our idea of facing south. Critical zone will be the lower range of 2.58! Around 2.444 will be a good buying chance IF market...