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Commoditiestrading

Lower commodity prices before higher $96 first, $80s nextEveryone'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, then rally over summer, and fall lower in the fall/early 2023 to find a bottom in the $80 region. After that, I can see the case for commodities to rally, but don't think commodities are going to go up here like everyone thinks.
CBOT:AW1!Short
by benjihyam
4
Key Trading Plan For GOLDGold continues to bullish at the expense of weaken US Dollar. This safe haven is currently on bullish mode without any sign to stop anytime soon. Its better to wait for the price action to see the best trading plan. Key Trading Plan: i) SHORT from the current price to the Take Profit Target at support 1765.7 ii) LONG if the price breaks 1819.9 resistance level ‼️Disclaimer: Please be advised that we are NOT Financial Advisors. We are not responsible for the results of your Forex or CFDs trading. The only person responsible for profits or losses is yourself. You should not consider any market information, educational and analytical material as trading advice that defines your trading actions but purely as educational market material. Please be advised that S.I.D. Capital shall not be liable for any errors in quotes and trading platform software errors. ‼️This Channel and all information is intended for educational purposes only and does not give financial advice. S.I.D. Capital Signals is not a service to provide legal and financial advice; any information provided here is only the personal opinion of the author (not advice or financial advice in any sense, and in the sense of any act, ordinance or law of any country) and must not be used for financial activities.
FX_IDC:XAUUSD
by SIDCapital
XAUUSD: Shore term sell opportunity within the Channel Up.Gold is trading inside a 4H Channel Up (RSI = 65.937, MACD = 6.370, ADX = 39.644, Highs/Lows = 8.2501) since the 1,535.50 bottom earlier this month. The pattern has reached the Higher High trend line today, which is also the 0.618 Fibonacci retracement level from the 1,611 top. This rise was of course largely assisted by the global alarm regarding the coronavirus and the subsequent sharp selling on stocks, but from a technical standpoint the price should now pull back inside the Channel Up towards the Higher Low trend line. Since the 4h MA50 has been tested on the previous Higher Low run, we are expecting another test of the MA period near 1,564, which is also the 0.382 Fibonacci level. *Note: See how the MACD is strating to make a bearish reversal. P.S. This short term projection doesn't alter our long term bullish view on Gold. Our long term projections earlier this month are intact as you can see below: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XAUUSDShort
by InvestingScope
2
Can WTI Make the Six-day Winning StreakWTI rose to levels not seen since September 17 yesterday as weekly stockpiles data showed a reduction in reserves. Monthly Crude oil has climbed over 9% in December and is showing upward momentum. Ultimately, the market looks as if it is trying to close through the resistance barrier that extends to the $62.50 level, so it’s likely that we will continue to see buyers come back in on dips. We don't have interest in shorting that market. But, of course, it could be susceptible to bits of exhaustion. Overbought conditions of RSI indicator raise worries of a pullback towards psychological $60 level now. In event of a breakout there a fresh decline to 61.8% of the daily Fibonacci retracement at $58.63, can be expected. Now the pair is struggling around 78,6% Fibo level (there is also the upper line of daily Bollinger Bands) and we're looking for Buy position in that area. Cause sustainable move above it could send the price higher to the September top at $63.33. What is your positioning on that instrument?
TVC:USOILLong
by ForexTrendline
Palladium When Does The Ride Stop?Palladium has had a massive drive up in price. Previously below platinum, it's come into it's own. The market is tightly controlled by a few major players, and possible supply interruptions helping fan the bull flame. $2000 Rejection most likely profit taking, and an outlook over $2K imminent. I am waiting to take a short position though, as a rally like this has the potential to unwind quickly, and the upside at some point will be capped. Key points of support sit at $1835, $1700, then $1600 in the short term. Will also be watching RSI for a short on any overbought rallys over $2K mark in the next few weeks. Whilst keeping an eye on news of the current supply/demand fundamentals in the case of a continued rally to future gains.
OANDA:XPDUSDShort
by KevinOrchard
Bearish Trend on Silver in Short-termThe Silver price is currently trading below the 21-day and 50-day SMAs. The Stochastic Oscillator period 14 is bellow 20 levels on the daily chart with the signal lines pointing down to indicate a sell signal. Also the bullish trend line has been broken and that in and of itself is not a good sign for the bulls. The next week or two should be crucial and tell us where we are going longer-term. Technically, Silver has been hovering around 16.90 since mid-November, but broke below this line on Friday, with sharp losses. Now the XAG/USD pair is expected to find support at 16.50, and a fall through could take it to the next support level of 16.20 (31st July low). We opened Short positions below 16.70 with first target at 16.20 & second TP at 16.00 in extension. Our SL is at 17.20. The pair is expected to find its first resistance at $17.00. It’s very likely that this level will continue to cause resistance based upon the large, round, psychologically significant figure, and of course the inability to close above it for the last three weeks. As well, the 21-week SMA is showing resistance at 17.30 combined with middle line of Bollinger Bands on weekly chart.
OANDA:XAGUSDShort
by ForexTrendline
KEN2020-KEK2020 - Commodity Spread on Coffee FuturesKEN2020-KEK2020 Rising triangle in formation on this spread between two wheat futures contracts. Statistically, in the previous 15 years of our seasonal window we have come to profit in 100% of cases with an average risk reward of 3:1. With this strategy we started trading years ago, bringing us considerable profits that made us understand that operating in the financial markets was an incredible potential source of income if done with professionalism and discipline.
CBOT:KEN2020Long
by SwissTradingSchool
XAUUSD: Bearish on the medium term. All scenarios presented.XAUUSD broke last week through its 1D Support (1,483.60) that sustained the uptrend for almost 2 months, and touched the top of the 1,453 - 1,460 1D Support Zone where it bounced. This creates the conditions for a 1D Channel Down (RSI = 41.739, MACD = -1.780, Highs/Lows = -14.3993) where the 1,460 low can be considered as the Lower Low of the pattern. As you see by the measurements of the Channel's phases on the 4H chart, some zones are symmetrical, giving us a good idea of how the price may fluctuate within the formation. The final target on the 1W chart seems to be the 1,381.50 - 1,400 1W Support Zone, and if the 1D Support breaks, we are expecting an aggressive fill of this level. This is where Gold is expected to make contact with its 1W MA50 and continue its aggressive new Bull Cycle that it entered in June, in a manner similar to the 2000s Bull Cycle. That idea was explained earlier this month with a comparison of the two eras, which you can see below: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX:XAUUSDShort
by InvestingScope
4
Gasoline: Repeating a 1980s pattern. Major bullish break ahead.We have discovered a 1980s pattern on Gasoline (RB) that is strikingly simalar the recent candle action on 1W. We are rather puzzled though as to which point of the 1980s sequence we are currently at. In 1980s the Golden Cross (MA50 over MA200) emerged after a Double Bottom. Currently we are past that Golden Cross and the price is approaching the last low on a sequence bearing many similar characteristics with the old pattern. This leads us to believe that the Golden Cross is irrelevant on this pattern and that the price mostly follows the trend of the 1W MA50 into similar benchmarks of the 1980 pattern. For that reason it may be viable to start taking long positions with a projected Target Zone of 2.5000 - 2.8000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
NYMEX:RB1!Long
by InvestingScope
1