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Cotton Cash Contract - Rectangle PatternCommodity: Cotton Cash Contract Introduction: Hello everyone! Today, we'll be analyzing the Cotton Cash Contract on the daily scale traded on Pepperstone. After a clear downward trend, the contract seems to have entered a consolidation phase, possibly forming a rectangle pattern. Analysis: The rectangle pattern we're observing has been forming for around 196 days. The upper boundary of this pattern is approximately at $90, which has been tested three times so far. Meanwhile, the lower boundary is at around $77.50, with two touch points to date. Currently, the price hasn't managed to cross above the 200 EMA. However, if we observe a breakout above the upper boundary, it would place the price above the 200 EMA, potentially paving the way for a long entry. Upon a valid breakout, our projected price target would be $100.660, translating into a potential price rise of approximately 13%. Conclusion: The Cotton Cash Contract's technical analysis suggests a consolidation phase marked by a potential rectangle pattern. A breakout above the upper boundary might signal a shift to a bullish trend and could provide an opportunity for a long position. As always, be sure to conduct your own research and risk management before investing. Thank you for tuning into this analysis. Please like, share, and follow for more insights into the market. Happy trading! Best regards, Karim Subhieh
PEPPERSTONE:COTTON
by KarimSubhieh
$WEZ - Wesizwe Platinum: Bullish On Long-Term CycleCommodity stocks, like the underlying commodity they generate revenues from are well known to be cycle. Looking at Wesizwe, it is no different. Since listing in 2006, the share has declined from an all time high of R16,50 to an all time low of 31 zac over twelve years. The EWP puts this bear market into perspective. The entire bear is a zig zag pattern labelled (A) to (C). (A) is an impulse and (C) alternated into an ending diagonal. The share did catch a bid during the post-covid commodity boom to peak at R2,90 and the share is currently in a pullback. Support is found around the 60 zac zone but reversals can happen above that zone. This is a long-term cyclical play so as long as price remains above 31 zac, i will look for buying opportunities.
JSE:WEZLong
by Loyiso_BlaqueSoros_Mpeta
After Squeezing, AUDUSD Get's PoundedCommodity currencies (AUD, NZD, CAD) underwent a short-squeeze following the Federal Reserve's decision to leave rates from zero-to-25 bps, which is theoretically more supportive for commodity speculation. However, after market participants digested the ultra-dovish FOMC, commodity currencies got monkey-hammered lower. AUDUSD was pushed higher to .7276 on Friday, following the pin bar created on Thursday's volatile price action. Essentially creating a triple-top. This level has acted a strong resistance. After being rejected, price action is at a support crossroads. The pair close on price action support of .7180 and could look to challenge a minor uptrend support trend line, dating back to September 10. A close below this level will open up a longer, intraday descending trend line, and further support could be tested at ,7137 and .7096. Momentum is likely fading. The RSI sharply contracted, while the ADX looks to be rolling over. Further price action weakness could, eventually, lead into a +/- DMI bearish convergence. However, if support holds, the pair may retest .7180 as it grinds along the uptrend. A break above .7180 could cause the pair to explode and test .7233 and .7273. Even though the US dollar pulled back last week, there is still the perception that the Fed will hike this year. This will keep the dollar somewhat supported, while global growth concerns - including China, Australia and NZ - will weigh on AUDUSD. I would encourage everyone to check out www.teachingcurrencytrading.com - thank you! Please follow me on Twitter @Lemieux_26 Check my posts out at: bullion.directory www.investing.com www.teachingcurrencytrading.com oilpro.com
by CommoditiesTrader
2
Bullish bounce?The Gold (XAU/USD) is falling towards the pivot which acts as a pullback support and could bounce to the 1st resistance. Pivot: 2,790.01 1st Support: 2,721.96 1st Resistance: 2,929.89 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAUUSDLong
by ICmarkets
The Bank of Japan expected to maintain negative rate levelsEUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 As the rest of the world has been raising rates throughout most of 2022, Mitrade expects the Bank of Japan is likely to keep a negative rate level at -0.100%, with a possible policy shift in the short term. USD/JPY has increased by over 40 pips to 137.40, currently trading at 136.880, while USD/CAD is trading lower at 1.3642. Meanwhile, the US dollar’s performance against other major currencies varied. The Euro and the Aussie increased a little over 10 pips to a closing price of 1.0605 and 1.2146 respectively. GBP/USD suffered minor losses at 1.2146. China’s gradual re-opening sent WTI oil futures higher at $75.38 a barrel, but spot gold declined to $1,787.78 an ounce. Bitcoin just bounced back from a low of 16,372, recovering to 16,571.0. The Dow Jones Industrial Average fell 162 points to 32,757 (-0.49%), the S&P 500 lost 34 points to 3,817 (-0.91), and the Nasdaq 100 decreased 159 points to 11,084.
by Mitrade_official
Cooled private employment readings lower nonfarm estimatesEUR/USD 🔼 GBP/USD 🔽 AUD/USD 🔽 USD/CAD 🔼 USD/JPY 🔼 XAU 🔽 WTI 🔽 Yesterday, the ADP Nonfarm Employment change tracking the private sector showed 132,000 workers joined the labor market, significantly lower than the expected 300,000. The lackluster result raised doubts about the nonfarm payrolls provided by the US Bureau of Labor Statistics, which also has a 300,000 estimate for the month of August. If the official figures also disappoint, the Federal Reserve is more likely to opt for a 50 bps rate hike rather than a 75 bps one. However, USD/CAD still managed to rise to 1.3127, currently trading at 1.3161, Canada's GDP growth was at 0.1% as predicted. USD/JPY first closed at 138.96, then reached a record high not seen after 1998, jumping to 139.53. Regarding other major currencies, EUR/USD briefly went below the parity level again, but soon recovered to 1.0057. Eurozone’s headline inflation rate slightly surpassed original projections at 9.1%, and investors expect tonight’s German retail sales to record fewer losses. GBP/USD slid from 1.1692 to 1.1622, while the Aussie declined to 0.6839 against the greenback. Gold futures declined to $1,726.2 an ounce. Yet another pipeline maintenance from Russia to Europe tightened the energy supply on the continent, and despite falling Crude Oil Inventories, WTI oil futures dropped and stabilized at $89.00 a barrel, before closing at 89.55. More information on Mitrade website
by Mitrade_official
AUSSIE STRENGTH OVER THE CANADIANS?Commodity Prices: Both Australia and Canada are major exporters of commodities, particularly metals and energy. If there has been a rise in commodity prices (such as iron ore, oil, or copper), it can benefit the Australian Dollar (AUD) if these prices are moving in Australia's favor. For example, if oil prices (which directly affect the Canadian economy) have dropped, it could hurt the CAD, making the AUD relatively stronger. Economic Data: Positive economic data from Australia (like strong GDP growth, employment figures, or retail sales) can boost the AUD. Conversely, weaker-than-expected economic data from Canada (such as lower-than-forecasted GDP growth, inflation figures, or trade balances) could make the CAD weaker and lead to a stronger AUD/CAD.
Long
by Marshall_Wick
CADCHF | Perspective for the new weekCommodity markets struggle to rebound, but the Canadian dollar remained under strong pressure even at the latter part of last week trading session. The appearance of a Double Top structure ( a strong reversal pattern) on the chart confirms that the price has found a peak @ Fr0.75000 and has since the beginning of May 2021 continue to find lower lows which culminated in the Breakdown of Key level @ Fr0.74000 - a level that has kept price "supported" for 42days. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top) Observation: i. i. Double Top: Confirmation of an extremely bearish technical reversal pattern that formed after the price reached a peak two consecutive times with a moderate decline between the two highs insinuates a risk of further decline in the coming week(s). ii. A successful Breakdown of the Neckline area (Key level) on the 9th of June 2021 was followed by multiple rejections of the same zone. iii. Multiple rejections of the Fr0.74000 area projects a new supply niche for future selling opportunity @ Fr0.7400/0.74400; this is evident in the activities that occurred in the latter part of last week trading session. iv. Shooting star: the price tried to rise significantly during the last two days (17th/18th June 2021), but then the sellers took over and pushed the price back down toward the open of the previous day to close below the neckline. v. In this regard, it appears to be appropriate that we look for a trading opportunity below the neckline in the coming week... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:8 Potential Duration: 6 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
This is just the beginningCommodity prices are still going, several commodities have gone past all time highs, such as Palladium, Lumber, Steel... And grains are also going up very strongly, Corn hit an 8 year high after 6 years of price stability, and they're all not far from ATH. Corn imports have fallen as buyers are put off by the high prices (they are going against the trend, what if it never goes back down?). Soybean demand should continue to increase, it is in high demand for the green transition (as a meat replacement, fuel additive or replacement, lubricant, etc). And based on past years it seems farmers do not sell before summer (they plant in April-May). This is now the 12th month in a row food prices have been going up. History will show this was more than just some short term fluctuation or some economic recovery. If we look at the past 10 years we might expect that soybean volatility is set to soar, every year as farmers plant their crops volatility increases by about 50%. It fits with what you would expect after a range breakout, a trend that gets stronger and stronger ending parabolic (and bears screaming "this is ridiculous"), followed by a significant correction. Corn has been the big runner and I think I will avoid it now, but wheat is interesting, after a long period of being choppy and lagging behind other grains, it has gone vertical finally! If this keeps going I will look to go long wheat on a pullback. Resistance (ATH) is far away: The price stopped at the $15 psychological level, gathered reinforcements, and then continued up. In many ways the situation is similar to 2007, but much crazier, with Rudolf Havenstein running the central bank. We have seen this several times in the last year: After hesitating a bit around resistance, the price makes a new high giving confirmation to sidelines traders. No reason to think this time is different, and as more people notice the trend it can be expected to get stronger. We can look at previous vertical price rallies, and expect it to go at least to $18. It does not make sense to me that the rally would stop now. It would be like a big truck running at full speed instantly stopping for no reason. On the weekly chart clearly it does not have that much distance left to get to all time high, it's not far fetched at all, especially with all the other commodities that went well beyond ATH. The trick is getting in on H4 to grab a fantastic risk to reward. The main difficulty with these crazy vertical price moves is you can never enter and once you get in it reverse. But with Soybeans... It is granting perfect pullbacks and breakouts, at least it has for the past 9 months. And cherry on the cake, it could just fly past ATH, again. Who knows how far it can go? If this was the winter low volatility, what could the year peak volatility be? Up 25% in a week? Hey it's even possible it ends up in the news and retail goes insane and starts a bubble with dumb money arguments "new paradigm", "market of 7 billion eaters with the green transition", "we are very early" and so on. The past centuries were full of all sorts of commodity bubbles, tulips that's the one everyone knows about, rabbits, silk, and others ones no one knows about but still have a few traces left in old books.
CBOT:ZS1!Long
by MrRenev
3
CCI - Forming a rising wedge, short at the break of $87 to $80CCI is building a rising wedge formation. If this breaks down below the 50 day moving average at $87, it could be an easy drop down to $80 * Trade Criteria * Date First Found- January 13, 2017, new trade criteria- February 19, 2017 Pattern/Why- Rising wedge formation Entry Target Criteria- Break of $87.0 Exit Target Criteria- $80 Stop Loss Criteria- N/A Please check back for Trade updates. (Note: Trade update is little delayed here.)
NYSE:CCIShort
by AcornWealthCorp