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Gold Bullish Sentiment Personality, I feel that we have met the GOLD bottom for the year. Possibly forever. Well, my $1830 target 🎯 missed by $12, but that's OK. So, why do I think the bottom is in the past? Dollar Devaluation The US Fed has devalued the dollar through a number of tools. This has and will have an effect on the equity & commodity markets. See, when the dollar is weak, the equity markets will rally - this has an implication that there will be no stock market crash any time soon. How the FED actions affect the market - -> In addition to this, as long as the equity markets rally and DXY remains weak Gold, silver, lumber, and agricultural futures will rally. Dollar Devaluation impact - - > Gold & Silver as a store for value. It's no secret that the DXY currently isn't the best for storing value as a reserve currency. Near-term bonds & yields are also at record low levels hence making it unattractive for hedge funds to stick to the traditional 60:40 portfolio allocation models as central banks are already flirting with the possibility of negative interest rates. So, what can they use as a store for value? [* Mining If you follow gold mining, you already know that there has been no gold discovery recently. This translated to basic demand-supply economics means that the price might shoot up. See, gold demand is going to rise in 2021. Last month's delivery of gold from futures was high and this is going to rapidly rise as we approach the December deadline for the GC1! continuous futures. You could also trade the VANECK gold miners ETF for a nice highly correlated compounding trade. CFTC COT WEEKLY DATA Hedge funds remaining bullish with record high net positions seen from last week's report with 323k long positions open. On the other hand, we are in volatile times, therefore, be careful. We are not yet out of the woods. Price is currently testing a breakout from a descending wedge. If it successfully stays above the $1912 support level, it's safe to assume that $1960 and $2000 are the next targets. If you agree with the idea, like or leave a comment below 👍🏿 👍🏿
FX_IDC:XAUUSDLong
by GrizzlyBearBee
Sept20 - CPO (1M) - New Bull Cycle if Stays Above R@2.8-3.1kI just did a long-term analysis on Bitcoin, which yielded a similar outcome -- long term Bull Cycle. Fundamentally, I'm suspecting this is a signal for what's likely to come next -> High-Inflation or Hyper-inflationary era due to overprinting of USD (global reserve currency), which is typically marked by inflated food/soft commodity prices , & a capital flight to alternative store of value . Back to CPO, we've been in the WXY (Elliott pattern) or triangle consolidation phase for over 10yrs, since 2009 sub-prime plunge. Post-COVID bounce does seem to be taking an impulse 5-wave form so far, suggesting a potential wave1 of new Bull trend, for as long as price stays above 2800-3100+ R-zone. Successful standing above Major R1: ~2.8-3.1k, on the next test, will mark the end of long term consolidation. Happy Hunting! 🥂🚀 -jk-
MYX:FCPO1!Long
by jeanne_k
SLV iShare I love trading SLV instead of XAG. Simple reason, you get all the price action but you don't trade with leverage (at least on my trading platform I have that option) I'm in for the long term with SLV. Might do a few small trades if the market signals are significant, but largely I'm HODLing. Silver has been receiving lots of positive publicity lately wit Warren Buffet moving away from the USD. And being much more volatile than Gold, as well as cheaper, it is a great option to diversify and to be a part of the commodities market. It is important to note that silver is used in electronics, batteries, nuclear reactors, touch screens etc. I don't see the demand decreasing for these items at this point. Curious to hear what you trade, XAG, SLV, both? Respectful and constructive feedback welcome. Thanks, Ev
AMEX:SLV
by BlockTechEv
4
Last Thoughts Before The Weekend - Gold's Most Important LevelsThe weekend is coming and in this analysis I wanted to share with you my final thoughts before the market closes. For GOLD it will be very important to keep an eye on the resistance I marked in yellow. This is an area that brought lots of resistance over the last week. Every time the price hit this level, the bulls were quickly chased away by the bears. Right now the price is at this level again. When the price is close to a resistance zone, two things can happen. It can bounce back to lower levels such as a support zone, or it can break through and spike upwards with high volatility. This happened already one time during a false breakout at the 27th of August. In general, I find it not a good moment to buy your way into gold. The price is in the middle of the channel between the major support and resistance and therefore have bad risk reward going either direction. I will be keeping an eye on this smaller yellow resistance, and depending on what happens a direction might show itself. For an explanation about the other levels, see my previous idea here Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
OANDA:XAUUSD
by Trading-Guru
5
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!
OANDA:XAGUSDShort
by Zanalysis
Commodities Uptrend Incoming? | CRB Commodity Index ($TRJEFFCRB)✨ Drop a comment asking for an update, we do NEW setups every day! ✨ Like, Comment & Follow to help the community grow 🎉🎉 --- 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
TVC:TRJEFFCRB
by AlphaBotSystem
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.
TVC:SILVERShort
by SkylinePro
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.
FX_IDC:USDWTILong
by Tilen_tradershub
4
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.
TVC:TRJEFFCRB
by AlphaBotSystem
5
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:
OANDA:XCUUSDLong
by Uncharted-FX
2
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!
CME:LEV2020Short
by SwissTradingSchool
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 !
OANDA:XAUUSDLong
by dzulmonsterfx