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Metal

✳️ Metal Looks "Shaky" vs BitcoinI have to honest with you, always... And the way the MTLBTC chart looks like is just "shaky"... Doubty , if that word exists. But there is still something that calls me about this chart... Consolidation since November, higher lows, bullish RSI... Aha! It is about the cycles, the market cycles and the chart setup, risk vs reward for a trade. If the bullish potential is there, if the market cycle is about to change, if the risk is low... One can jump with good probability of not being wrong. 15% risk is pretty good... It doesn't mean that you will win or have to win, this is the maximum that you can lose. Well defined risk. The target can be 60%, 80%, 100% or more. Low risk vs high potential for rewards. You don't have to hit them all. You just need a plan. Diversify. Learn from mistakes and in time, you, your capital, your wealth and your trades will all grow. Namaste.
Long
by AlanSantana
1
SILVER - Still Bearish? 🥈Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. SILVER has been overall bearish trading inside the red falling broadening wedge, and it is currently retesting the upper red trendline. Moreover, the zone 25-26 is a strong resistance zone . 📌So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper red trendline. (acting as non-horizontal resistance) 📕As per my trading style: As SILVER is around the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) “Although gold and silver are not by nature money, money is by nature gold and silver.” – Karl Marx Always follow your trading plan regarding entry, risk management, and trade management. Good luck! 🗒All Strategies Are Good; If Managed Properly! ~Rich
OANDA:XAGUSD
by TheSignalyst
19
GOLD - Around Strong Resistance! 🥇Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. GOLD is overall bullish trading inside the rising red channel, however, it is currently retesting the upper red trendline. Moreover, the zone 1870 - 1900 is a strong resistance zone . So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper red trendline. (acting as non-horizontal resistance) As per my trading style: As GOLD is around the upper purple circle zone, I will be looking for bearish reversal setups (like a double top 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
OANDA:XAUUSDShort
by TheSignalyst
10
Silver is gearing for a move up, but is it ready?Silver had a huge move up in 2020, but that was all it managed to do back then. Since its first significant peak in August 2020, it went sideways and started declining. Silver was in a big bear market since 2011, then entered an accumulation range, and then had its capitulation move in March 2020. Then with all the fiscal stimulus, it skyrocketed, but most capital flowed into crypto and stocks, not precious metals. As inflation remains high and interest rates could be near their peak, and investment in metal miners has gone down a lot over the last decade, this precious metal that seems to have lost its shine might be ready to shine again. It looks like silver had a very healthy pullback into the top band of its accumulation range. Now resistance seems to have turned into support, and the market could head toward 24$ in the next few months. The truth is that I don't believe that the market has fully bottomed yet, although it could very well have, and that eventually, it will have on final leg down towards 16$ and bottom there. The main reason I think that has to do with how the market bottom is that there are two double bottoms around 17-18, and there is a little 'gap' at 16. Essentially I would like to see the market test 16$ because I want to see it thoroughly test that untested breakout, the Yearly S3 Pivot, and the Volume Profile Point of Control. Another reason that I think the market will go down there again is that I expect a major deflationary episode to take place in 2023, one that has the potential to create a liquidity squeeze (risk asset collapse) that would affect precious metals too. In my opinion, the current move up in Gold, Copper, Silver, etc., mostly has to do with low production/inventories of metals, while demand seems to have bottomed in the short term. Eventually, the market will get crushed again, but I think the bounce has legs for now. Therefore it would make sense to look for longs in the 16-20$ zone and take profits in the 21.7-24$ area. Shorting 24$ might be a good idea, but I would prefer to watch how the price action develops before I step in.
COMEX:SI1!
by BitcoinMacro
SILVER - The Fall of a Balloon! 🥈🎈Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. After an aggressive bullish movement late 2021, SILVER has been overall bearish trading inside the red falling broadening wedge , and it is currently retesting the upper red trendline. Moreover, the zone 25-26 is a strong resistance zone. 📌 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper red trendline. (acting as non-horizontal resistance) 📕 As per my trading style: As SILVER is around the purple circle zone, I will be looking for bearish reversal setups (like a double top 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
OANDA:XAGUSDShort
by TheSignalyst
13
Palladium Potential For Bearish ContinuationLooking at the H4 chart, my overall bias for PA1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a sell entry at 1838.5, where the 78.6% Fibonacci line is. Stop loss will be at 1878.5, where the 61.8% Fibonacci line is. Take profit will be at 1759.5, where the 127.2% Fibonacci extension 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.
NYMEX:PA1!Short
by VantageMarkets
Industrial metal cyclicality is only skin-deepIndustrial metals prices are traditionally cyclical Industrial metals have historically been cyclical. In this current downturn, we are finding that metal prices are suffering, as they have done in the past. However, the importance of base metals in delivering the energy transition has never been greater. We are currently living in an energy crisis exacerbated by the war in Ukraine. Europe wants to accelerate the energy transition to reduce reliance on Russian energy sources. That will place a higher onus on renewable energy sources coupled with battery storage to meet our energy needs. In short, that will require a lot more metals. However, the production of many base metals is declining. That’s partly due to falling prices, making it more difficult to justify the capital expenditure. Also, high energy prices are making the smelting of metals uneconomical1. We believe there is a risk of supply destruction of base metals due to the energy crisis being greater than the demand destruction coming from a decelerating economy. So, while sentiment may be weighing on metal prices right now, the fundamentals may be tighter than the market assumes. That could pave the way for a substantial rebound in metal prices when the market refocuses on supply imbalance and sentiment turns. Inventories are low It is clear from the table below that industrial metal inventory is especially low. We do not believe the year-to-date price performance reflects that degree of tightness. And there is ample room for an upward correction. Most base metals are in backwardation With the exception of aluminium and nickel, all base metals are in backwardation. Backwardation is when spot or front-month futures contracts are priced higher than the price of contracts for delivery in later months. The fact that someone is willing to pay for immediate delivery rather than entering a contract for delivery in a few months’ time indicates that they need the material urgently. Thus, the backwardation structure of futures markets is another indication of market tightness. Production is hampered Surprisingly, aluminium and nickel are not in backwardation like the other base metals. The inventory table seems to indicate that metal availability is the worst for these two metals. Looking at European aluminium production data this year (to July 2022, the latest data point available) relative to production in 2021 over the same period, production is down 11%. A surge in China’s summer temperatures in August 2022 has led to a power crisis, resulting in curtailed power supply to the industrial sector in Sichuan province. Aluminium is very energy-intense to produce. Inflation Reduction Act and European policy on energy transition European policymakers are currently debating the path to secure energy independence from Russia. In her State of the Union speech on 14th September 2022, Ursula von der Leyen, President of the European Commission, emphasised investing further in renewable energy and hydrogen in particular. These investments will be metal demand positive. In the US, the Inflation Reduction Act, which was signed into law in mid-August, sets out several initiatives to reduce inflation. The US also recognises that energy reform is part of the puzzle. The bill includes circa $390Bn of spending/credits over the next ten years related to energy and climate change, with the goal of putting the US on the path towards 40% emissions reductions by 2030. The bill takes steps to enhance energy security and provides credits to help tackle climate change. There are incentives for cleaner fuels (e.g. hydrogen), for consumers to electrify appliances/upgrade home energy efficiency, and tax credits for buying electric vehicles. We expect the bill will be metal demand positive. Conclusions We believe supply destruction is occurring at an equal or faster pace than demand destruction in the base metals space. However, metal prices are currently falling, mirroring historical cyclical patterns for industrial metals. When markets refocus on the fundamentals, we may find prices correct to the upside. Our long-term projections for industrial metal demand – underpinned by an infrastructure rebound and energy transition – remain firm. Sources 1 See Zinc and aluminium supply tightening amid energy price shock This material is prepared by WisdomTree and its affiliates and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date of production and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by WisdomTree, nor any affiliate, nor any of their officers, employees or agents. Reliance upon information in this material is at the sole discretion of the reader. Past performance is not a reliable indicator of future performance.
N
by aneekaguptaWTE