Platinum powerful buy signalsPlatinum, monthly chart: 11 years long(!) support zone + Triple divergence + Morning Star
Commoditytrading
Silver $XAGUSD Short SetupTechnical Analysis:
Price is currently forming a rising wedge which could indicate further downside movement for silver, we can also notice a bearish divergence forming on the 1 Hourly. It would easy to mistake this pattern for an ascending triangle.
Stop loss to be set at the 50 MA, which lines up perfectly with the zone of support, and our TP could be set on the resistance levels marked by the red lines on the chart (17.30 & 17.50$)
Cheers and feel free to share your ideas!
Commodities Uptrend Incoming? | CRB Commodity Index ($TRJEFFCRB)✨ Drop a comment asking for an update, we do NEW setups every day! ✨
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Commodities have rallied into resistance. We are currently looking for a pullback to the last support range. To chart this we are looking at the Thomson Reuters/CoreCommodity CRB Commodity Index (TRJEFFCRB), which is an index comprised of 19 commodities: aluminum, cocoa, coffee, copper, corn, cotton, crude oil, gold, heating oil, Lean Hogs, live cattle, natural gas, nickel, orange juice, silver, soybeans, sugar, unleaded gas, and wheat.
For those who want to trade the price action, one could take a position with Commodities ETFs like Invesco DB Commodity Tracking (DBC) and First Trust Global Tactical Commodity Strat ETF (FTGC). With that said, we aren't trading this one, we are just looking at levels.
Although the trend is still bearish overall, it is interesting to see commodities trending up to resistance as money is being created by central banks. It is a longstanding economic theory that inflation should cause an increase in the price of commoidites, and that commodity price increases are a leading indicator of inflation.
While the correlation between commodities and money printing hasn't been noticeable in recent years, COVID-19 has changed things up a bit and it'll be interesting to see if old trends repeat or new trends emerge (consider things like recent meat processing issues increasing the cost of meat, and the recent temporary drop in the price of oil to zero).
Although the trend is currently bearish, we are only looking levels of interest. We see two relevant support levels, S1 and S2. S1 would be of particular interest if commodities were going to officially start trending up. If we do get more upside, R1 and R2 are both levels to watch. R2 specifically represents the bottom of the previous range before COVID, and seems like a logical target in an uptrend.
To sum it all up, tracking commodities can help us to make profitable trades, either on specific commodities or baskets of commodities via ETFs like the ones noted above, but it is also academically interesting.
Could a spike in commodities prices now signal coming inflation from an increase of the money supply? Should we be filling our freezer with OJ and beef to avoid higher prices in the near future? Or, should we just be looking for bullish continuation or bearish consolidation to help us find a nice setup on oil, coffee, and gold?
Resource: mises.org + www.investopedia.com
USOILOil has accumulated significant demand and prices will gradually increase with natural retracements.
It will continue to test and break through resistance zones. Conversely, USDCAD will test and break through support levels.
SILVER - new impulse wave downAs we predicted in the post of April 16, Silver is developing its downtrend path to newer lows. Minute wave ii has retraced 50% of minute wave i, which can signalise the end of the counter-trend move or just very near for this. The next move will be minute wave iii from Minor wave 3 and because of this we may see good strength down soon. The first stop before continueing down should be at around the most probable target at 13.58. If prices crosse sup 15.51 we may revise this analysis. FOLLOW SKYLINEPRO TO GET UPDATES.
XAUUSD : UPTREND CHANNEL BREAKOUT Hey guys if you like my ideas you can like it or share with your friends
Uptrend change breakout retest confirm
Short gold
WTI oil long opportunityCrude oil futures fell, with U.S. futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that U.S. storage facilities will soon fill to the brim amid the coronavirus pandemic.
Price crashed over lower support of trending channel and its now placed on long term support which goes back to 1987, 1990, 1996 and 2000 levels. I think this is great long-term play from here - just wait the price stabilize for better entry.
SILVER - prepare for the freefall...As stated in the previous post, silver offered the forecasted short-term gains (9.8%) before the freefall we are about to see. Silver price crossed the support channel and intermediate wave 3 down is under way. Prices should fall well below 11.00. FOLLOW SKYLINEPRO TO GET UPDATES.
BNNLFI loaded up on $BNNLF around .016c with a TP of ATH's above .08c but I think there is a bigger opp here with this name b c they r located in Niger and can pump #uranium out pretty quickly to the East. At least the FA got me thinking that.
Commodities Double Bottom?Looking at Commodities via the Thomson Reuters/CoreCommodity CRB Index (TRJEFFCRB), an index that tracks 19 commodities including coca, coffee, copper, corn, gold, orange juice, soybeans, unleaded gas, wheat, etc, to see if the 1999 bottom will continue to hold as support today.
We can see price has currently found support on the bullish order block formed back in 1999, rebounding off that block and creating what could turn out to be a double bottom.
The trend is bearish, as confirmed by our Range MA indicator, and our Bull/Bear Power indicator even signaled a downtrend via a red arrow at almost the perfect local top on Jan 6, 2020.
Right now the question is should we be looking for a reversal of the bearish trend and close short positions (for example puts on commodities ETFs that are reflective of this index)?
To get confirmation of a reversal of the bearish trend, we will be looking for a long signal from the Bull/Bear power indicator as would be represented by a green arrow on the chart.
Copper Coiling at a Major Support/Flip ZoneCopper on the 4 hour is looking very nice. We have had a prolonged down trend with multiple swings, and this has hit a major support/ flip zone where we would expect profit to be taken, and then perhaps a reversal.
We are seeing that price has not been making new lower highs. In fact we can say price is struggling to make another lower high swing. We seem to be creating the beginnings of a reversal foundation with a range and or a double bottom with engulfing candles showing where the buyers are at.
I would like to see a first higher low swing in the new trend, which we could be forming currently but will not be confirmed until we break and close above the blue level marked ( 2.5550 zone).
First target will be the flip zone at 2.62.
Take a look at the weekly chart to see how important this support/flip zone is:
LEV2020-LEZ2020: Spread on Live CattleLEV2020-LEZ2020
Commodity Spread Trading is an advanced way to profit statistically from the differences that occur in the commodity futures market based on Contango or Backwardation situations.
These statistics are offered by online software and allow for amazing performance.
So far we have achieved the highest gains in relation to drawdowns with this way of trading,
Here we enter Short on the Live Cattle Spread buying the October Futures and selling the December Futures.
Happy Trading to All!
Channel Breakout ! A serious lookout for GOLD rally.Assalamualaikum and hye.
Looks like we tend to change our perspective as GOLD already broke the channel in H4 perspective. As my own view , I favor this Leading Diagonal pattern strongly.. as its perfectly rejects at 50% fibo level. This confirms the Leading Diagonal Pattern to be a start for Gold rally.
Our strategy :
1) Buy stop @ confirmation level marked
2) SL below the invalidation level
3) Pretarget @ 161.8 fibo
Good luck !
*Comment and tell me what you think ! Cheers !
Get ready to short GOLD again after some retracement!If you have missed the GOLD train downwards, here could be another chance!
#XAUUSD may retrace 50-60% of the current downmove and then down it goes again
CCH2020-CCK2020 - Breakout on Cocoa SpreadCCH2020-CCK2020
There goes another one of our alerts in the commodity spreads.
In this case it is an intramarket spread on cocoa.
You buy the March futures (CCH2020) and sell the May futures (CCK2020)
After a retracement phase within the seasonal window, the breakout of the Middle Valley level between the two highs took place, thus forming the classic "Double Top".
The statistics of the past 15 years, together with the technical analysis, guide us in mentally positioning the Stop Loss, and in the platform the Take Profit.
SELL LIMIT @-09.00 STOP LOSS @01.00 TAKE PROFIT @-39.00
LEZ2020-LEQ2020 - Spread on Live CattleLEZ2020-LEQ2020
Breakout of the resistance level on this inversion pattern in the Spread between the two futures contracts on Live Cattle.
The parameters respect our strategy and we are approaching the seasonal window that statistically ends on January 29th with 93% of chances to get profit from it.
ORBEX: Gold Impulsive Upside Could Lead to Triple Combo!Gold's upside move could end shortly, forming an intervening wave x that could be followed by either an ending zig-zag or an ending triangle pattern.
The successful correction could turn the current structure into a triple combination!
Look for potential invalidation above 1519/oz.
Trade safe
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
UUUU - A Levered Play on the Uranium MarketThe bear market of spot Uranium has dragged down the price of the subsequent uranium miner stocks, including UUUU . This stock in particular experienced a very steep mark down period during the time of the Fukushima reactor meltdown. This event left a bad taste in the mouth and as a result, many stepped away from using nuclear energy to the same extent to meet energy demand.
In 2016, we saw a 'base' establish for the stock right around $1.35. As the market structure stands, this is the bottom end of our accumulation range. The upper end of this range is at about $2.35.
Mid-2018, we saw a market expansion take place as price tested the upper end of our range, and surpass it. When price exceeded $2.35, a lot of attention and capital started to flow into the Uranium market, the market makers unloaded shares for about a year, then sent price back down into our accumulation range.
Today we are seeing a lot of choppiness, as bulls and bears battle it out.
Overall, I see a lot of room for growth in this sector, especially during a time of clean energy promotion. I believe nuclear energy will be the answer to the demand for clean energy.
I have a price target of $5.28 by 2022. An entry at $1.35 would give an incredible R/R of 3.94/0.0064. An upside of 400% and a downside of about 10% if market structure breaks.
Beware of the volatility, and search for a safe entry.
XAUUSD: Buy opportunity on an RSI signal.Gold is consolidating on the 4H chart (ADX = 22.401, CCI = -23.5777) following Wednesday's 1,484 High. This is directly linked with the Nonfarm Payrolls as the market is ranging in anticipation of what the report will show.
However even from a technical perspective this pattern has been previously formed within the very same Channel Up we've been trading in since the November 12 low. See the identical price ranges from lows to highs. Based on the bearish RSI we anticipate a pull back towards the 4H MA50, a level which should attract medium term buyers again. Our Targer Zone is 1,490.90 - 1,494.50.
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SOYBEANS (SOYBN/USD)A nice rising wedge pattern is forming on this chart. It would be wise to enter a short on the break of the counter trendline on the weekly chart. The market is largely in a bearish move that can be maintained if enough sellers creep in.
My Sentiments on XAU/USDThe Commodity has broken the 1494 - 1484 S/R zone, A highly volatile economic week being the main factor driving the commodity down and could continue down significantly..
Technical analysis :
1. Pin Bar formed on the D chart (25/10/19) signaling market rejection of the 1517 - 1513 price range, previous rejections making it a strong resistance zone
2. Price retraced to the 1517 - 1513 zone providing a good entry zone down.
Current price is at a strong support zone and were anticipating a pull back up to the 1493 - 1473 zone
This is a possible short buy opportunity as we look for the bear trend to continue.
Copper: Short opportunity within an Ascending Triangle.Copper (XCUUSD) is trading within a 1D Ascending Triangle (RSI = 56.277, MACD = 0.016, Highs/Lows = 0.0000). Last week it was rejected on the 2.7000 1D Resistance and that should make it test at least the 1D MA50 (blue line). In our opinion since the RSI has been consolidating in the past 2 months, the potential pull back can make a Higher Low on the 1D Ascending Triangle so our Target is lower at 2.57000.
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