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XAUUSD LONG TO $2300 (ALTERNATIVE SCENARIO)As many of you who follow me, know by now I am short on Gold down to 1570 long term as my main bias. I have even uploaded the analysis on my page which you can go back on see. However, this here is an alternative analysis and has a likely chance of coming into play. After last years strong bullish momentum, Gold has spent most of this year within a correction phase which now seems to be complete according to the Elliot Wave Theory. Gold is now in it's final stages before making its next big move. I am expecting one more micro push down on Gold towards the 1745-1735 price, before we see Gold start pushing back up again. Don't forget, this is an ALTERNATIVE to my Gold short analysis. I am still holding both my long (1742) and short (1870) positions hedged against each other, in accordance to all the previous analysis I have uploaded on my page (feel free to go check them out). I will be catching this move on behalf of myself & my Account Management investors within my private fund. Drop a like and follow if you would like to see more analysis uploaded.
SAXO:XAUUSDLong
by BA_Investments
2
Bearish Flag Pattern Setup on Gasoline, Target at 2Trend Analysis The main view of this trade idea is on the 4-Hour Chart. Gasoline futures (RBOB) appears to be in a bearish flag pattern setup. The pole of the flag can be seen from the sharp decline from 2.55 highs to the initial low at 2.31. Then RBOB began to gingerly channel lower and is currently retesting the 2.31 support level. If RBOB breaks below that support, the futures contract is expected to decline towards 2. A negation of this move will be observed if RBOB breaks above the resistance trendline towards 2.35. From a Daily perspective, RBOB is pulling back from the 2.55 highs. Next levels of support on the Daily Chart is seen around the 2.10 price level. Technical Indicators On the 4-Hour Chart the moving averages (MAs) are above the RBOB price. Also there have been negative crossovers on the short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The RSI is below 50 with the KST recently having a negative crossover. Recommendation The recommendation will be to go short at market, with a stop loss at 2.35 and a target of 2. This produces a risk/reward ratio of 3.39. 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.
NYMEX:RB1!Short
by Ceddy86
Gold Builds Early Bullish Momentum!Gold has been resting well, and the rest may have given new life to the bullish momentum as we are starting to see some progress this month. An all-time high formed in August 2020 at $2075, and from there, we saw a decline down through the $2000 psychological area of support/resistance and below the 50 simple moving average. Price formed an area of consolidation and formed a base just below $1700 in March 2021. Price hit this level again in August 2021, and this bounce from support has given price some much-needed momentum. We have the $2000 round number above price, which may act as resistance. If price makes it above this hurdle, then we have the all-time high resistance at $2075, which may also act as an obstacle. As price has formed a base in the consolidation zone, a breakout of the the high or low will give us an indication of where price may go next. The prior trend was bullish, so we are anticipating a bullish breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLDLong
by Sublime_Trading
Soybean Oil Positioned to Move Higher to 6700 Trend Analysis The main view of this trade idea is on the 2-Hour Chart. Soybean Oil (SOYUSD) hit some resistance around the 6315 price level and declined towards 5845 where the commodity found support. SOYUSD is rallying to re test 6315 resistance. Expectations are for the commodity to breakout higher and target 6700. Failure of this move would occur if SOYUSD decline towards 5800. On a Daily Chart there has been a trend change from early September for the commodity to make a leg higher. Technical Indicators SOYUSD is trending higher with positive crossovers on the short (50-MA), medium (100-MA) and long (200-MA) fractal moving averages. The commodity is trading above the respective MAs. The RSI is above 50, indicating a bullish price move. This is corroborated by the KST in a positive mode. Recommendation The recommendation will be to go long at market, with a stop loss at 5800 and a target of 6700. This produces a risk/reward ratio of 1.66. 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.
FOREXCOM:SOYUSDLong
by Ceddy86