Looking back, commodities had a high conviction in february based on a longterm trend. Combining macd and BB break out. Markets have either risk-on sentiment or defensive. During risk-on phase people want to put money to work, there is too much money. During risk-off or defensive, people want money and safety. Assets become too expensive. Bitcoin rallies...
Head and Shoulder formation on the Bloomberg iShares Commodity Index. Attractive trade also in the current inflationary environment for one's currency to maintain purchasing power. Target @ 37.50 corresponds to high in Aug 22.
The chart of $DJP, the Dow Jones Commodity ETF, if forming a descending triangle, which typically is a bearish manifestation on the charts, particularly when it occurs as a continuation pattern. I will take a short position here if a BO occurs.
A basket of commodities continuing its downtrend. If we break to new lows, expect further decline.
DJP, a commodities play, is an inflation hedge. If DJP breaks 37 voiding the Trendline or GANN FAN line support, then inflation may have peaked out temporarily. Holding 37, DJP may see higher inflation numbers.\ Note that all impt FIBO levels are respected here in increments of 4. 37 is the 2.618 level of 31 to 27. If 37 holds, the next resistance is at 41, the...
DJP commodities back to short term uptrend with 2 higher highs & now also 2 higher lows. It just recovered the uptrend line after filling the previous up-gap (the green zone). It also bounced above the 2 VWAPs & FIB 0.236 level. However, it still have to go back inside the ascending triangle where it BO from. If DJP holds the TL & also go back into triangle in the...
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DoubleLine Gundlach said this year is the year of commodities. I took a look at DJP it indeed looks very attractive. RSI is above 50, MACD is positive and price is above 10 month MA and the MA itself is flat to turning up! I think it is a buy if it can close above $25.50 on a monthly basis.
Buy stop at 24. Break the 52 week high.
Zero risk volatility The main risk free rate of return is the US government treasury bill and that is one of the oldest bull markets we have today. With rates so close to zero, some argue the market have already peaked. Weaponized "exorbitant privilege" The US monopoly over the global payments infrastructure has been challenged by Germany’s foreign minister,...
DJP is far far worse than 2009, and is now at decade low. Other than diverged RSI and MACD, the main trend is still down.
Similar triangle bottom pattern as 2009, with similar RSI and MACD settings. Buy triangle breakout + RSI breakout, on weekly close basis. Or if aggressive, buy now with a reasonable stop (like March low).
A tiny breakout and above 10 MA. May be still bottoming and forming a small right shoulder (or cup handle). But I think in near term, it should be able to reach 0.382 Fib ($32 level).
Still a little early to call, but the divergence is evident. To confirm, we want a positive MACD, and all red resistances get cleared.
Though 50-3EMA has a steep down-slope which is indeed worrisome, volume and price suggest early buy signal confirmed by RSI bottom reversal. If you want to have a real-time alert try us www.2waytrading.com
Inflation coming??? Lol. Or, maybe just that precious metals and ag will finally perk up. 1/3 precious metal, 1/3 ag, 1/3 oil