Technical Analysis
As you can see in the chart, every red square is showing a consolidation period, followed by a strong rally.
Today's action is showing strength as we are seeing a potential breakout, outside the 1-month consolidation period.
Trade setup
The light-blue arrows are potential measured moves. However, I would follow the 5sma or 10sma, as a...
Welcome to my series of macro outlooks where I put together threads focused on long term perspectives for major asset classes. My goal is to provide you with a long term view that I update on a monthly and sometimes weekly basis so that you can have the means to make wise and calculated trades in the shorter term.
I have threads for assets that are typically...
- Breaking downtrend (purple line)
- I am a buyer at confirmed breakout of first Retracement level (yellow line)
- Volume Profile suggest we could see the price move from current levels to 2.83 and even 2.9 with little resistance (according to 1D volume profile)
- This kind of attempted breakout, seems to common amongst the commodities complex.
Counters:
- as...
