High probability trade. HOGS tested the 79 support and parallel line on the 8 Mar. Price then moved up with high volumes and retraced for five days. Currently is back in the buy window. Hogs makes typically seasonal bottoms in mid march. Many factors are favoring the bulls. I would enter long above Friday high. In two-three days we should reach the target...
RBOB peaked in mid Feb and seems ready for a reversal. If the 20MA acts as resistance the price is poised to fall to 2.92-2.90 area quite quickly. 3.09 sell seems a good entry point. 2.00 Gain/risk ratio.
May Coffee seems forming an interesting pattern - W bottom. If current level 138 holds as support only.. Something to monitor.
May Copper, in heavy downtrend, has finally found support both on the median line and trend line (see weekly chart for a better viewing). In the last five days it has formed a nice consolidation pattern that could lead to big moves. Looks like a bear flag to me but either way is going to be a big move at breakout.
April Gold - Trend is down but in the last five days gold has been consolidating within 1565 - 1585 range. This could be an area of temp support. Breakout from this pattern is going to push the price up to the next resistance (1620) and towards the down-sloping parallel line. Risk / Reward = 1.85 not bad.
British Pound typically has a strong tendency to move up in March. Th downtrend started in Jan seems over. The price has moved nicely along the 1/2 Gann line and now is ready to move up towards the 1/1 line. I would buy above last Friday high and close the trade when the price approaches the 20MA.
Aussie reached support. Today price action is showing that the bulls are in control. Trend line and gann fan line are giving support. I would do a day trade and close at the 20MA. Reward/Risk is not the best but it is a high probability trade!
Aussie reached support. Today price action is showing that the bulls are in control. Trend line and gann fan line are giveing support. I would do a day trade and close at the 20MA. Reward/Risk is not the best but it is a high probability trade!
Silver is in decline. Friday price action suggests a possible correction to the upside. I expect the price to reach 30 - 30.5 area in the 2nd half of march. Then the selling pressure could restart (sliding parallel and significant Fib area) and it is where I'm planning to short it. Gold has a similar pattern.
The trend is up. The market retraced again towards the up-sloping parallel line and seems ready for another move up. Seasonal usually strong. Buy May Soybean above today high with target 1500!
This year seems a counter seasonal. Crude has double topped. Sell at mid leg, target 92.00.
It seems that the Euro has peaked and now it is turning lower (reversal). If the 20MA holds as resistance I see a decline in the next few weeks. My first target would be 1.3100. 1.3200 level could find new buyers, so at that level I'm going to move the stop loss at the entry price (1.3360).
Copper could move higher next week. Trend is up and MA is giving support. In the past two weeks the price has consolidated inside a triangle flag, I would buy at breakout with stop loss below friday low and target objective 3.8450 (resistance). Reward/risk ratio around 2. If it breaks to the downside it is a sell .
After the low posted on 11Jan price has found resistance at 1500 and retraced to the current 1400-1430 level. Uptrend should resume at this point. Price is supported by the up-sloping parallel line and is inside the 0.618 Fib buy window. I would buy above 13 Feb high (1430) with target objective at next resistance area (1540). Ambitious but possible. If target is...
Price is moving in downward channel since last October. I'm bullish at this point and I would enter long above today high (1662) with a short term target objective at the next resistance (1695). Risk/reward ratio of 2.64 is not bad. Any significant pullback at the upper line of the channel I would exit. In the long term we could retest the 1758 resistance (?)...
Corn uptrend is resuming. Price is currently resting between the downward sloping trendline and the 20 exp moving average. A new upward movement is probable. I would buy above 734 with target objective 767. If target is not reached by the 5th of Feb I come out. Feed-back please!