Natural Gas: The Widow MakerNatural Gas is on pace for it greatest & fastest fall in price history.
Nat Gas is hitting technical support in one of the most oversold conditions ever.
We discuss some Nat Gas cycle history that may be useful in knowing how to trade Nat Gas.
Commodity
Corn Futures ( ZC1! ), H4 Potential for Bearish DropTitle: Corn Futures ( ZC1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 688.50
Pivot: 673.00
Support: 648.25
Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to possibly head towards the support at 648.25, where the previous swing low is.
Alternative scenario: Price may head back up to retest the resistance at 688.50 where the recent high is located.
Fundamentals: There are no major news.
Copper Futures ( HG1! ), H4 Potential for Bearish DropTitle: Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4.2300
Pivot: 4.1165
Support: 3.9245
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to continue heading down towards the support at 3.9245, where the overlap support is.
Alternative scenario: Price could head up towards the resistance at 4.2300, where the overlap resistance is.
Fundamentals: There are no major news.
Copper potential for bearish drop to overlap supportLooking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Looking for a sell entry at 4.1165, where the overlap resistance is. Stop loss will be at 4.2065, where the overlap resistance is. Take profit will be at 3.9335, where the overlap support is.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
XAUUSD Potential for Bearish Drop | 3rd February 2023Looking at the H4 chart, my overall bias for XAUUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Looking for an immediate sell entry at 1911.950 to ride the bearish momentum. Stop loss will be at 1959.770, where the previous swing high is. Take profit will be at 1865.215, where the overlap support and 161.8% Fibonacci line is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD Potential for Bullish Continuation | 2nd February 2023Looking at the H4 chart, my overall bias for XAUUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market.
Looking for a pullback buy entry at 1931.08, where the 50% Fibonacci line is. Stop loss will be at 1900.87, where the previous swing low is. Take profit will be at 1998.41, where the previous swing high is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
XAUUSD Potential for Bullish Continuation Looking at the H4 chart, my overall bias for XAUUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market.
Looking for a pullback buy entry at 1931.08, where the 38.2% Fibonacci line is. Stop loss will be at 1900.87, where the previous swing low is. Take profit will be at 1998.41, where the previous swing high is.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Palladium setting a very big sell signal to $880Descending triangle has formed on the weekly chart for Palladium
Last week, was a breakout to the downside.
200 >21> 7 - Red background
RSI <50 lower highs
Bearish
Target $880
WHY WOULD Palladium go down?
I can't tell you with any certainties why it's coming down but I can think of a few potential factors like:
~ Lower demand for Palladium as an investor point of view
~ There is an increase in the supply of palladium - I assume with all of the automotive catalysts and with the higher confidence in electric vehicles (cough Tesla)
~ Interest rate changes with there talks about inflationary measures and interest rate drops, this can result in a drop in Palladium prices
~ Technological advancements reducing the need for palladium. For example, they may be using alternatives like Rhodium, Iron, PLatinum for catalysts in newer vehicles that contain less palladium.
Soybean Oil Futures ( ZL1! ), H4 Potential for Bullish RiseTitle: Soybean Oil Futures ( ZL1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 64.60
Pivot: 61.66
Support: 59.90
Preferred case: Looking at the H4 chart, my overall bias for ZL1!is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Expecting price to retest the pivot at 61.66, where the overlap support and 23.6 % Fibonacci line is before heading towards the resistance at 64.60, where the overlap resistance and 61.8% Fibonacci line is.
Alternative scenario: Price could head back down to break the pivot at 61.66, where the overlap support and 23.6 % Fibonacci line is, before heading towards the support at 59.90, where the previous swing low is.
Fundamentals: There are no major news.
WTI Potential for Bearish Drop | 1st February 2023Looking at the H4 chart, my overall bias for WTI is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Looking for a pullback sell entry at 79.070, where the 38.2% Fibonacci line is. Stop loss will be at 82.525, where the recent high is. Take profit will be at 72.607, where the recent lowis
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Copper Futures ( HG1! ), H4 Potential for Bearish DropTitle: Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4.2900
Pivot: 4.2200
Support: 4.1105
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Expecting price to continue heading down towards the support at 4.1105, where the previous swing low is.
Alternative scenario: Price could head up down to retest the pivot at 4.2200, where the 38.2% Fibonacci line is.
Fundamentals: There are no major news.
WTI Potential for Bearish Drop | 31st January 2023Looking at the H4 chart, my overall bias for WTI is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Looking for a pullback sell entry at 79.070, where the 23.6% Fibonacci line is. Stop loss will be at 82.525, where the recent high is. Take profit will be at 72.607, where the recent lowis
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Will Gold Be Defeated?The previous all-time high from September 2011 at $1920 is playing
a major role in price action yet again. Price reacted to this level in March 2022,
where the high of that candle also tagged the current all-time high at $2075.
Price failed at both resistance levels and went on a decline, creating a low
at $1614 in September 2022. November 2022 through to the current month
have been bullish, bringing us to where price is now.
During the month, price has traded above $1920, but as we are nearing the
end of the month, the sellers have pulled price down to this level where it
could be acting as support on the daily timeframe.
Despite the bullish impulsive moves over the last three months, remember that
a long-term consolidation is still in play from September 2011. Until we see
a trend emerge above the all-time high, expect turbulence and volatility along the way.
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Corn Futures ( ZC1! ), H4 Potential for Bullish RiseTitle: Corn Futures ( ZC1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 706.50
Pivot: 688.75
Support: 661.25
Preferred case: Looking at the H4 chart, my overall bias for ZC1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 706.50, where the previous swing high is.
Alternative scenario: Price may head back down to retest the support at 661.25 where the 61.8% Fibonacci line and recent low are located.
Fundamentals: There are no major news.
USOIL Potential for Bearish Drop towards supportLooking at the H4 chart, my overall bias for USOIL is bearish due to the current price crossing below the Ichimoku cloud , indicating a bearish market.
Looking for a pullback sell entry at 80.22, where the 38.2% Fibonacci line is. Stop loss will be at 82.44, where the recent high is. Take profit will be at 77.90, where the 50% Fibonacci line and support is.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
USOIL Potential for Bearish Drop | 30th January 2023Looking at the H4 chart, my overall bias for USOIL is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market.
Looking for a pullback sell entry at 80.22, where the 38.2% Fibonacci line is. Stop loss will be at 82.44, where the recent high is. Take profit will be at 77.90, where the 50% Fibonacci line and support is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
BCOUSD Potential for bullish rise towards overlap resistanceLooking at the H4 chart, my overall bias for BCOUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market.
Looking for a buy entry at 86.682, where the 50% Fibonacci line is. Stop loss will be at 85.401, where the recent low is. Take profit will be at 90.439, where the overlap resistance and 61.8% Fibonacci line is.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
BCOUSD Potential for Bullish Continuation | 27th January 2023Looking at the H4 chart, my overall bias for BCOUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market.
Looking for a buy entry at 86.647, where the 50% Fibonacci line is. Stop loss will be at 85.401, where the recent low is. Take profit will be at 90.439, where the overlap resistance and 61.8% Fibonacci line is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
#GOLD Forecast #Gold is about to make some big moves, testing the pivot , is it going to be making a triple top or will it pierce through 2100 this time and move towards 2500 level. Patience can be rewarding in this
Descending Triangle Setup on Wheat, Target at 525Overview
The main view of this trade idea is on the Daily Chart.
The commodity Wheat is in a descending triangle setup, with the resistance trend line at lower highs of 949.08 and 798.34. These lower highs occurred on 10th October 2022 and 30th December 2022 respectively. The support line is observed around the 730 price level. Expectations are for the support at the 730 price level to break and the commodity will decline towards 525. A negation of this view will result in Wheat rallying above 800.
Technical Indicators
Some technical indicators corroborate the chart pattern setup. The Supertrend indicator is in a sell mode and the Awesome Oscillator is below 0 and Red, indicating a downward trend. The RSI for the commodity is also below 50.
The intra-day trend following indicators of Wheat also show downtrends in the 15-Min, 2-Hr, 4-Hr and Daily timeframes. Short term resistance is observed around the 730-770 price range.
The longer-term view also show Wheat in a downtrend. It broke below trend in late June 2022 and has been below trend ever since. Indication of a downtrend has been utilized using the 28-Week Simple Moving Average. A change in the long term trend would occur, at the time of writing, with a weekly close above 805.
Recommendation
The recommendation will be to go short at market, with a stop loss at 800 and a target of 525. This produces a risk/reward ratio of 2.97.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
At the time of writing, I have exposure to Wheat.
GOLD - Trend-Following Buy Setup!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
🗒 GOLD has been overall bullish trading inside the blue rising broadening wedge pattern.
Moreover, the 1900.0 level is a strong support and round number.
📌 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support zone and lower trendline in blue acting as a non-horizontal support.
📉 As per my trading style:
As GOLD approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Weak US data increases recession risksEUR/USD 🔼
GBP/USD 🔼
AUD/USD 🔽
USD/CAD 🔼
USD/JPY 🔼
XAU 🔽
WTI 🔽
A series of US economic data have pointed to a slowing economy, including a 1.1% drop in retail sales and a 0.7% decrease in month-on-month industrial production. Investors then raised concerns about a recession, with the stock market dipping.
The Dow plunged 613 points (-1.81%) to 33,296, the S&P 500 declined 62 points (-1.56%) to 3,928, and the Nasdaq dropped 146 points (-1.27%) to 11,410.
Both the Eurozone and the UK had their year-on-year inflation readings meet Mitrade's estimates, at 9.2% and 10.5% respectively. EUR/USD added 4 pips to 1.0792, and GBP/USD climbed 58 pips to 1.2346. AUD/USD dropped 34 pips to 0.6941, as Australia recorded a 14,600 drop in employment. USD/CAD increased over 100 pips to 1.3491, and USD/JPY traded 75 pips higher to 128.88.
WTI oil futures slipped below $80, closing at $79.8 a barrel. Spot gold lost over $4 to $1,904.37 an ounce. Bitcoin just declined to $20,698.0, and Ethereum is currently trading lower at $1,516.68.
USOIL Potential for Bullish Continuation| 19th January 2023Looking at the H4 chart, my overall bias for USOIL is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market.
Looking for a retracement pullback buy entry at 76.84, where the 50% Fibonacci line is. Stop loss will be at 72.42, where the recent swing low is. Take profit will be at 84.70, where the 61.8% Fibonacci line is.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
