TrainingTrader

TrainingTrader Updated 

Corn experienced a sharp decline supported by the recent higher than expected stock report. However, price is overextended and is supported by the recent low support level. Long opportunity: Long at market reopening as High Risk trade towards 505.25 as Take Profit - 1 level.

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The initial target for downside breakout of the 1984 region is met with Gold ended the week at key support region. The strong downside move of Gold can be primarily linked to the appreciation of the Dollar. With Gold being at key support level and the Dollar being overextended, there is a high possibility that the key support will hold and Gold will begin to...

TrainingTrader

The breakout of the 102.75 resistance level has met the initial target at 104.085. If momentum persist, the United States Dollar Index can push towards they key resistance zone at 105.0 region. The current upside momentum is extended with RSI approaching 70 and if price is to reach the 105.0 with the current momentum, it will be considered at overextended and...

TrainingTrader

Equities faced downside pressure early on the week but all was quickly recovered with the strong upside momentum of technology stocks. The S&P500 recovered most of the downside move and closed the week at the recent high. If upside momentum continues, the index can push towards the 4300 region.

TrainingTrader

Gold dip further primarily due to the appreciation of the Dollar. Price looks to retrace towards the descending trendline / 4hour - 50 EMA at around the 2000 region. If price reverses from the 2000 resistance region, price can look to trade lower towards the 1940 region. However, if price manage to trade above the 2007 region, price may continue to trade towards...

TrainingTrader

The United States Dollar Index overextends past the 102.75 resistance region last week. As price is now extended, the Dollar potentially may retrace towards back to the 102.75, now support region or even the 102.100 support region before heading higher depending on the structure. A retest confirmation may push the Dollar towards the 104.085 resistance region.

TrainingTrader

The S&P500 broke out of the range and looks to retest the 4180 previous resistance, now support. If retest is successful, price looks to push towards the 4300 region. However, if price fail the retest and falls back towards the range, price may continue to trades in the 4100 to 4200 range.

TrainingTrader

Gold retraces most of the bearish move but was unable to maintain above the 2045 level. Price fell back to last week low where price found support at the 2007 region. Price looks to consolidate between 2007 and 2025. A breakout of the 2007 support region can potentially push price more towards the downside, possibly towards 1985 support region.

TrainingTrader

The United States Dollar Index broke out towards the upside, invalidating both the descending trend line and the daily 50 exponential moving average (EMA). Price is met with resistance level at 102.75 which can push price back towards 101.54. However, if the resistance is broken through, we may see the Dollar push towards the 104.085 region.

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The S&P500 continues to trade in consolidation with no clear sense of direction. Upside bias remains as we are trading near key resistance region at 4180, potentially waiting for a breakout towards the upside.

TrainingTrader

As mentioned in our previous posts, breakout of the 2025 resistance region can push price towards the 2080 resistance region. However price fell back to the range. In this new scenario, if price were to break above the 2038 region, price can push towards 2100 while if price falls below 1985, price can descend towards 1942 region.

TrainingTrader

The United States Dollar Index attempts to push above the descending trend line but failed miserably as price reverses back below it. If price were to break below the 100.69 region, price can potentially descending towards the 99.365 region.

TrainingTrader

The S&P500 index continues to trade sideways and below key resistance level. However, upside bias still remains as price trades above 4100 and is trading above the 50 daily EMA. A downside breakout of the 4050 support region can potentially push price towards 3915.

TrainingTrader

Gold continues to trade within the range between 1985 and 2025 region. Short term trend can only be identified when price breaks out of the range and would likely be this week due to the upcoming FOMC.

TrainingTrader

The United States Dollar Index ascends towards the descending trend line but quickly reverses from it. The Dollar remains weak as long as price is below the descending trend line and long set up can only be considered when price breaks above the 102.75 region.

TrainingTrader

The S&P500 struggles earlier on the week but reverses from the support region at 4100 region. Bias for equities remains bullish and if broke out of the 4180 region towards 4300 while if price dipped below 4100 can push price towards 4050.

TrainingTrader

Gold trades in consolidation between the 1985 and 2025 region throughout the week. A breakout of the 2025 resistance region can push price towards 2080 while a breakout of the 1980 support region can push price towards the 1942.

TrainingTrader

The United States Dollar Index trades sideways throughout the week, looking for the next impactful factor to determine the next short term trend. Bearish bias remains as price trades below the descending trend line. Bullish bias can only be considered when price breaks out of the 102.75 region. Dollar seem to await for the upcoming FOMC, before beginning of the...