Commodity
WTI 12th of AugustWTI broke the pattern, made a retest and started an uptrend. As perfectly predicted!
Crude Kaput-edSo... Crude appears to have kaput and broke down quite a bit. Changed outlook, and the triangle has been readjusted and immediate target at 84 for the week ahead; and lower to 70 if the downside momentum continues.
With the long weekly candles (momentum), slicing through the weekly 55EMA, breaking down the support ranges, and alignment between the weekly and daily technical indicators; and in addition, a trend change pattern breakdown as well. These, together with this past week's breakdown, and the breakdown of the earlier triangle, more downside can be expected, as far down as 70.
That is what the chart is telling right now...
A very interesting, and admittedly, unexpected outcome for an energy commodity. Perhaps the spectre of a recession is that overwhelming.
Cotton Futures Reversal (MCX)The commodity has broken out long back and retested now, therefore may undergo a reversal rally. Trade is supported by Supports Nearby.
Risk Reward Ratio - 1.5:1
SL is placed below the support zone & the lower trendline. The target is placed near resistance.
Silver Breakdown (MCX)The commodity has broken down and retested, therefore may undergo a correction. Trade is supported by Resistances Nearby.
Risk Reward Ratio - 1.5:1
SL is placed above the resistance zone & the upper trendline. The target is placed near support.
ZW / WHEAT FUTURESAbout FUNDAMENTAL ANALYSIS .
---We are now in the corn-demand zone and there are many factors supporting the buying.
1-The Ukrainian war.
2- - dehydration.
3-The rise in the price of oil will lead to a rise in the price of transportation.
About TECHNICAL ANALYSIS
--- we look at (" Sell VOLUME ") and ("Sell pressure") is in decreasing , Volume drives all markets.
About Psycho-
--- The short sellers start to take their money from wheat market because of a psycho- demand zone.
ZC / Corn futures ZC / CORN FUTURES
About FUNDAMENTAL ANALYSIS.
---We are now in the corn-demand zone and there are many factors supporting the buying.
1-The Ukrainian war.
2- - dehydration.
3-The rise in the price of oil will lead to a rise in the price of transportation.
About TECHNICAL ANALYSIS
--- we look at (" Sell VOLUME ") and ("Sell pressure") is in decreasing , Volume drives all markets.
About Psycho-
--- The short sellers start to take their money from CORN market because of a psycho- demand zone.
Iron ore miners to Bull hard Hey guys,
Good time to load up on iron ore miners who have been sold off recently but i dont see prices falling below that major long term support line it has bounced off.
This chart is part of my thesis on the Inflation cycle to calm down over the next few months but as commodities like iron ore, copper, Oil etc start to bull again as people still have cash at hand to deploy as prices come back down. The Bullwhip effect has certainly started with retailers increasing stock by +25% while sales Revenue only increases by 3% something that confirms prices have started to fall but Major support being hit here and in other commodity showing people are back to buying and the commodities will lead the way back up starting the next wave of inflation that will hit a higher peak then current levels.
GOLD - Support Rejected✅ Now Approaching A Resistance!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
As per my last analysis, we were looking for buy setups around the 1675 - 1700 support zone
Now What?
GOLD is approaching the upper orange trendline acting as a non-horizontal resistance.
Moreover, the zone 1750 is a support turned into resistance.
Thus, the highlighted purple circle with the red arrow is a strong area to look for sell setups as it is the intersection of the green resistance and upper orange trendline.
As per my trading style:
As GOLD approaches the upper purple circle, I will be looking for reversal bearish 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
WTI 26th of JulyWTI has been amazing! Price formed a pattern, it broke it up and it started a new uptrend.
buy xauusd (gold) after retrace PLEASEhello guys
in my opinion after that engulfed that gold did make this pair bullish, but still there is the danger of being hunted is lurking:))
so i recommend to all of you to be wait until gold retrace to that important range that i showed as a green zone (1701-1672).
when price retrace to that area if you get a new bullish confirmation is better because of tight stoploss but with this condition that i mark on chart still get a great reward i suppose.
write for me your opinion
be patient!
good luck!
We Want Our Safe Haven Back! Up!🥇Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
For those who know me well, know that I am a big fan of Gold, not as a long-term investment like I approach stocks and crypto, but as a backup plan if things go sideways.
By Gold, I mean physical, tangible Gold🥇. I regularly purchase an ounce every couple of months, depends on my budget, and stack it somewhere safe.
I learnt this habit from an Armenian friend. Shoutout to Armenians, you know exactly what I am talking about.
Now let's get back to the charts 😁
As per my last two analysis, we have looking for buy setups as Gold was approaching a support zone 1675 - 1700
Gold rejected our support zone and ended up closing bullish for the week.
But the question is... are you finally bullish?
Not Yet❗️
For the bulls to take over from a long-term perspective, and as per my trading plan / style, we still need a new major high to form.
and then, a break above:
i- this new major high (projection in purple)
ii- 1750 - 1760 zone
iii- upper orange trendline
then, we will be expecting a shift in momentum from bearish to bullish📈.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
WTI 22nd of JulyWTI perfectly respected our analysis, amazing trade. Pattern breakout retest of the supply zone and price dropped heavily.
WTI 22nd of JulyDo not be scared! Having a strategy is just a repetition of the same movement every day. Pattern, breakout, retest and the downtrend can start!
GOLD and JPY Correlation!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
We all know that GOLD and JPY are usually positively correlated. Means when Gold goes up, JPY pairs goes down due to JPY strength.
Gold is currently sitting around a critical area 1675 - 1700 zone that has been respected since 2020.
Here are the possible scenarios:
1- Rejection (blue projection)
Gold rejects the 1700 support zone and trades higher. In this case, we will be expecting a reversal bearish movement on USDJPY.
The next resistance for would be 1760 while the next support for USDJPY would be 135
2- Breakout (purple projection)
Gold breaks below 1700, in this case an over-extended bearish movement would be expected. On the other hand, a continuation to the upside would be expected for USDJPY to test the 150 supply and upper brown trendline.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GOLD - 20TH JULYconvergence between fibonacci target 1 and previous bottom in 08/09/2021.
beyond that, we have oversold in bollinger and RSI approaching 30.
buy zone in 1668
GOLD - Video Top-Down Analysis!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for GOLD.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
WTI 15th of JulyWTI perfectly followed our analysis, after the breakout a retest happened and then it fell.
WTI is testing the bullish trend.In the midst of a turbulent global economy and in the face of a worldwide recession scenario; light crude oil is testing the bullish trend.
Technically, it is supported by the 200-period moving average, while testing a very strong support located between 95 and 88 USD.
The first key is not to lose 90.
Natgas Day TF - butterfly pattern assumption - July 2022Following the theory, the X-A leg is the first leg of the price fall, then follow by the A-B leg up retracing 78.6%, then leg down to B-C leg retrace 38.2% - 88.6% and the final leg is C-D which normally price would go up to 127% or 161.8%.
if price follow as I drew, I would enter my long position from the low of C-D leg and take profit accordingly.
Please note, this is not a financial advice
Please feel free to comment - thanks!
WTI Outlook (12 July 2022)Similiar to the analysis of Brent (check link)
Anticipation was for WTI to trade between 98 and 104, however anticipating weaker demand due to potential lockdowns in China due to a new Covid variant and the persistent concerns of a global recession, has led WTI to trade below 98.
If price continues to drop, significant downside could be expected, with the next support level at 90
