Get started

Commodity

EURAUD: BULLISH EXPANDING 🔺 BIAS: BULLISH 🔺 TECHNICAL PROJECTION: BULLISH 🔺 We have a H4 breakout bullish confirmation, bullish momentum is expected to carry to 1.556 target. AREAS OF INTEREST: H4 time frame, bullish breakout confirmed- will be attempting to join in the "E wave" by break & retest method. FUNDAMENTAL PROJECTION: AUD is weak and will become weaker as it gets weighed down by lower commodity prices. The markets await the upcoming rate decision where there is a possible chance from 25 bps to 50bps on 5th July, which may bring strength to AUD... but until then we will be playing AUD weakness! EUR: As ECB President Lagarde indicated, the ECB would be looking to the CPI data as a guidance to their interest rate decision. A higher than expected CPI data which was revealed on Friday (8.6% Previous: 8.1%) could spur the ECB into a more aggressive policy adjustment which will strengthen EURO.
Long
by maraxrara
2
Elliott Wave Analysis: Uranium Looks PromisingHello traders and investors, today we will talk about Uranium in which we see pretty nice and clean bullish development from Elliott wave perspective. Uranium made strong and impulsive rally from March 2020 lows, clearly within a five-wave cycle which suggests a bullish reversal at least in three waves A/1-B/2-C/3. After a completed five-wave cycle into wave A/1 at the end of 2021, Uranium slowed down into a wave B/2 correction, which looks like a complex w-x-y corrective decline that can be now approaching the end soon. From technical point of view, ideal support is around former wave "iv" and 61,8% Fibonacci retracement that comes around 17-15 support area. So, once current wave B/2 correction fully unfolds, we believe that Uranium will be headed higher into wave C or maybe even wave 3. All the best! If you like what we do, then please like and share our idea! Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
AMEX:URALong
by ew-forecast
Winter is Coming - Long UNLAs this terrible war grinds on, Europe and Asia are getting ready for winter by restocking inventories in the face of a supply squeeze caused by EU and US sanctions. Years of under investment in the sector due to political/ESG concerns combined with the sector's past corporate mismanagement making investors doubly wary has led to insufficient infrastructure in place to meet demand. Given the recent pullback from the recent highs and a positive testing of support, I feel now is the time to enter a position at this level with a timeframe of 9-10 months for my thesis to play out. UNL is the vehicle to express my trade thesis because it avoids the risks of contango by using a 3 expiry framework instead of simple following the most current NG contract which can create contango risk at rollover. Entry: $23.32 This is the avg of 3 tranches spread out from the $22.50 - 26.50 price levels. Today's price puke back down to support at $22.65 was the last fill. I am a swing trader and will be allowing this to run until spring. I will be selling covered calls throughout. I want to let this fish run with the line, so I may or may not sell parts of the position at major price levels. We are in market conditions where the price may not have much of an upper bound until demand eases in the spring. I will update as this trade develops. Good luck and god speed.
AMEX:UNLLong
by SloppySeconds
What to buy and how to ride the commodity bull?Discussion: 1. Example on Natural Gas - breaking away from its range 2. Beginning stage of a “Growth” stage 3. Identifying and trading in its uptrend with multiple timeframes Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
NYMEX:NG1!Long
by konhow
Copper rallying hardCopper bounced very hard off the Yearly Pivot, however it doesn't look ready for a new sustainable rally. Maybe this bounce had something to do with a fundamental catalyst, but nothing to do with the bull market resuming. To me the market is in a very clear distribution phase, and it simply bounced after taking out several major lows. Essentially this is a short squeeze / dead cat bounce, and going for the retest of the breakdown. The market tends to go back and retest such key areas before moving to the original direction. Similar story for Gold which is also bouncing and has some room to the upside before it reverses to the downside. In the long term I do believe Copper will be headed much much higher, especially as governments print more and more, along with the ESG movement. Copper is necessary for the green revolution and that's why I can see it much higher in the long term. However in the short term the price got too high, too fast, and as it failed to sustain above the 2011 ATHs, it is probably headed towards 3.75 and maybe even lower in the next few years. For now the first key target for this trade 3.95, although someone could simply take partial profits there. The trade has a fairly decent R/R and decent probability of playing out as long as the market gets to our entry.
COMEX:HG1!Short
by BitcoinMacro
1
Gold Price: Daily Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Gold. The chart is self-explanatory. If the price does not hold the multi-year support line, expect downward pressure to test the bottom end of the descending broadening wedge as well as the re-test of the descending parallel channel. The price has made multiple attempts to break out of the 0.786 Fibonacci Retracement level but has failed so far. It may make another attempt if the price is supported by the support trendline. Lastly, the overall multi-year pattern since August 2018 is an ascending broadening wedge which is bearish. Shown in the chart: Trend line, Support and Resistance Lines, Parallel Channel, Ascending Broadening Wedge, Descending Broadening Wedge, Bear Trap, Bull Trap, Breakout Zones, Fibonacci Retracement and Trend Analysis. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
TVC:GOLD
by MillionaireEconomics
2
CRUDE OIL: Bullish Pin Bar SignalCRUDE OIL – Futures: Bullish Pin Bar Signal Price Action: Price formed a Bullish Pin Bar Signal overnight. Price moved higher from the recent Bullish Pin Bar Signal that had formed late last week (We did not consider trading this signal). Price moved higher from within the range of the recent Bullish Tailed Bar Signal that had formed just above the $95.43 short-term support level over three weeks ago (We suggested trading the pullback to this signal in the May 1st, weekly newsletter and hopefully some traders got on board). Potential Trade Idea 1: For more aggressive traders, we are considering buying on a retracement lower to within the range of the current Bullish Pin Bar Signal. Potential Trade Idea 2: We are considering buying on a retracement lower whilst price remains above the recent Bullish Tailed Bar Signal that had formed just above the $95.43 short-term support level.
TVC:USOILLong
by UnknownUnicorn393254
Elliott Wave Analysis: Natural Gas Confirms Temporary TopHello traders and investors, today we will talk about Natural Gas in which we can see sharp and impulsive decline from the highs, which in Elliott wave theory suggests and confirms temporary top in place. From Elliott Wave perspective we can clearly see a completed five-wave bullish cycle within 5th wave at projected 9.0 level. In Elliott waves, after every five waves, we can expect a three-wave A-B-C reversal, so with current five-wave drop from the highs, seems like Natgas is now slowing down within a higher degree (A)-(B)-(C) correction. Well, wave (A) seems to be completed now, so we may now see a three-wave A-B-C corrective rally in wave (B) that can retest 7-8 resistance area and form a nice Head&Shoulders pattern before we will see another sell-off for wave (C). Happy trading! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
NYMEX:NG1!
by ew-forecast
3