High Grade Copper Futures have just met with a long term uptrend spanning back to 2003. Copper is oversold and a bounce off of this trendline indicates large potential long term future growth. Entering the market around 2.40 with take profits at 3.00, 4.00 and 5.00. Please don't hesitate to leave your thoughts and comments. Good luck to all and happy trading.
Recent downtrend in crude oil probably will countinue following months. It could not break the R1 level (0.63 level) and with the high chance it will get down to S2 level (lowest level in 2009) (strong support level in 0.76). Which will end up seeing perfect Gartley in R2.
You can trade with the structure levels or you can wait for R2
Market is clearly over-bought! 1D, 4H, 1H and 30MIN graphs all show clear signs of short opportunity.
Coffee futures experience head and shoulders patterns and the next move is clearly downward. RSI and CCI have values of 66.8725 and 184.6364 which clearly indicates SHORT pattern.
Stoch RSI is 98.6 way over 80% mark which means over-bought market with no other...
The reason why we feel CRUDE may Rise.
* On weekly basis it has just started moving up
* To Rise and come near 39.57 levels
* Stoch RSI (3,3,14,Close) is Rising.
* RSI (14,CLOSE) is Rising.
* CCI (20,CLOSE) is Sinking..
Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above...
Welp, Hank Hill would love this. Propane is no longer suffering through the warehousing problems that it did last year and much of the country has been experiencing a more milder winter than is usually experienced.
Proprane is seeing a decline, as it is a byproduct of both crude oil and natural gas production, and prices of both of these commodities are low at...
Crude is reaching important Fibonacci projections, at important graphical support. USDCAD near key resistance around 1.4250 while copper is at important monthly support on trendline linking the lows near $1.95/$2.00.
The whole commodity complex seems due for at least an important rebound, at least the risk/reward is starting to be interesting.