I am still very much a believer in the analysis below targeting ~1.10.
Buy that yellow box. I am already long at 1.0610. I will add at 1.0590 and 1.0565. I will update with targets if 1.0720 is broken. Daily Time Frame June Future
Purple is the buy zone. Target 1 at 146.75 Target 2 at 154.52 (Scroll up)
Pay close attention to chart below. Magnitude in which price declines is often overlooked. Daily 10 Year Treasury
I think the big opportunity in here is the long trade. I actually am not taking the short trade on this due to trading restrictions. I will however go long if we see price reach the 2s. BIG PICTURE
Watching the 114.75 level for a short with target at 113.60 Interested at 112.60 to go long.
If I were asked to pick just one asset to be long in 2017, I'd consider wheat as my top choice. I am still long from 422. As shown below, I got stopped out but managed to re-enter at that exact price.
Entry at .8490. 1.5% risk. Head and shoulders reversal. Falling at trend line with minimal support and strong future supply. Looks like a breakdown will occur.
Looking at the short time frame I am bearish. 2 - 1 risk/reward.
Long opportunity is a 2 - 1 risk/reward/high probability trade. 30% upside in the stock At the 26 - 32 level we will reach a potential shoulder of resistance. While the time frame is monthly, I don't forsee this taking very long to develop. Could easily see profit in a few weeks, maybe less.
I do not have much doubt that palladium topped against gold in the short term. Though, longer term, things look interesting for palladium against gold and silver - possibly a stronger run higher (or smaller run lower) than both metals.. I am currently short palladium with no position in gold or silver.
New price action from last week's close is a reiteration that the gold/silver ratio -0.20% is likely going to go lower by at least 25%. Today it takes ~68 ounces of silver 1.41% to buy one ounce of gold -0.34% . The bet: This year it will take 50 ounces of silver 1.41% to buy one ounce of gold -0.34% . 10 months ago I published the pending breakdown in this...