aw1 3d bull gartley harmonic, coming off support, just broke downtrend line before rejection back to just above prev support. watching for another breakout higher with gartley pt at B level. This is also a large bull pennant on daily/weekly tf
WisdomTree has long-standing expertise in commodities, and this asset class constitutes a core part of our business. We aim to debunk several myths that surround commodity investing1.
Myth 1: Commodities are only a tactical instrument
Some believe that commodities trade in a range and do not outperform over the long term. Furthermore, they think commodities...
Commodities are waking up from the support with the help of China stocks and there's room for more upside.
Bloomberg commodity index with ticker AW made a nice three-wave (A)-(B)-(C) correction with the wedge pattern into wave (C). Unless it has alternatively unfolded a leading diagonal from the highs. Anyway, in both cases we can expect a recovery, at least for...
Commodities have been enjoying a strong revival in recent years, with broad commodities returning 27% in 2021 and 15% in 2022. A combination of fiscal and monetary support in the early phases of the COVID-19 pandemic helped to soften the damage to demand from one of the deepest economic shocks in modern times. As COVID-19 restrictions lifted, commodity demand...
In 2022, we saw some of the highest levels of inflation in the US and Europe since the 1980s (Figure 1). Not only had central banks left the punch bowl at the party for too long, but many supply shocks had sent prices rising sharply. The Ukrainian war, for example, sent energy and food prices higher. Adjusting complex supply chains that showed their weaknesses in...
Bear case: There is a descending triangle and a time cycle of peaks suggesting downside.
Bull case: There is a trendline suggesting upside
General: If the green trendline is broken to the downside, there is no moving average support* until the 20-month SMA and below that there is only the 100-week and 200-week which is well below near the implied target of the...
Recession may be a red herring for a market fuelled by a supercycle
While broad commodities have outperformed most major asset classes year-to-date1, the pressure of rising interest rates, a strong US dollar and fears of several large economies tipping into recession has led to a pull-back since the summer of 2022. In our Market Outlook, we argued that the...
In part 2 we discuss how to construct and utilize sloped trendlines (TL) and Channels in order to better understand the ebb and flow of supply and demand. Like most other charting techniques understanding supply and demand and its relationship to trends and channels depends on you staring at hundreds and thousands of bar charts. Unfortunately, there just isn't a...
Trading Seasonal Market Patterns
Hey traders today I wanted to do a recap of all the Seasonal Market Patterns covered in the series. Also putting it all together for yearly trading opportunities. These Seasonal Market Patterns can be very rewarding l to all of us in our trading if we know when to look for them.
Enjoy!
Trade Well,
Clifford
The weekly chart shows a bearish divergence of the RSI and MACD's bearish cross below zero.
To me, this says the hawkish Fed trade driven by inflation concerns may be over and the focus could soon shift to the impending economic slowdown/recession.
Amazing how THE PRICE JUST REFUSES TO FORGET ... not matter the asset class ... and by the way, this is an index.
It´s been over 8 years since this resistance level was laid out.
Not saying it will hold, just saying it is being respected for now.
Price action is beatiful!
Everyone's bullish commodities and calling for a supercycle and a breakout here. However, every commodity chart looks like it's in the process of topping or has already topped.
Then if you look at this chart, it just hit resistance again and hasn't been able to break through.
The highest probability scenario to me here is that we reject and fall lower to $96,...
The pound sterling, the United Kingdom’s foreign currency instrument, was the global reserve currency in the 19th century and the first half of the 20th century. For decades, the US dollar has been the world’s reserve currency, which became official in 1944 after a delegation from forty-four allied countries decided that the world’s currencies would no longer be...
Bloomberg Commodity index is flagging, has shown a steady uptrend since 12/21. I am looking for opportunites in specific commodity categories on pullbacks, although with the flag setting up in the uptrend, it may not happen soon.
- Pierre Debru, Head of Quantitative Research & Multi Asset Solutions, WisdomTree Europe
Since the beginning of the covid-19 pandemic, broad commodities have benefitted from a new lease of life. The Bloomberg commodity index is up almost 60%2 from its nadir, and investments, tactical or strategic in nature, are flowing once again to the asset class. However,...
Stagflation. Everything is ATH, this commodity index isn't.
Commodities have been very strong this week and if the day rolls over at this high I think it will breakout.
We also just crossed green on MACD. ...
If we break out target maybe 105 before we see more pushback.
