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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
CCH2020-CCK2020 - Breakout on Cocoa SpreadCCH2020-CCK2020 There goes another one of our alerts in the commodity spreads. In this case it is an intramarket spread on cocoa. You buy the March futures (CCH2020) and sell the May futures (CCK2020) After a retracement phase within the seasonal window, the breakout of the Middle Valley level between the two highs took place, thus forming the classic "Double Top". The statistics of the past 15 years, together with the technical analysis, guide us in mentally positioning the Stop Loss, and in the platform the Take Profit. SELL LIMIT @-09.00 STOP LOSS @01.00 TAKE PROFIT @-39.00
ICEUS:CCH2020Short
by SwissTradingSchool
ORBEX: Gold Impulsive Upside Could Lead to Triple Combo!Gold's upside move could end shortly, forming an intervening wave x that could be followed by either an ending zig-zag or an ending triangle pattern. The successful correction could turn the current structure into a triple combination! Look for potential invalidation above 1519/oz. Trade safe Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
FX_IDC:XAUUSDShort
by Orbex
2
UUUU - A Levered Play on the Uranium MarketThe bear market of spot Uranium has dragged down the price of the subsequent uranium miner stocks, including UUUU . This stock in particular experienced a very steep mark down period during the time of the Fukushima reactor meltdown. This event left a bad taste in the mouth and as a result, many stepped away from using nuclear energy to the same extent to meet energy demand. In 2016, we saw a 'base' establish for the stock right around $1.35. As the market structure stands, this is the bottom end of our accumulation range. The upper end of this range is at about $2.35. Mid-2018, we saw a market expansion take place as price tested the upper end of our range, and surpass it. When price exceeded $2.35, a lot of attention and capital started to flow into the Uranium market, the market makers unloaded shares for about a year, then sent price back down into our accumulation range. Today we are seeing a lot of choppiness, as bulls and bears battle it out. Overall, I see a lot of room for growth in this sector, especially during a time of clean energy promotion. I believe nuclear energy will be the answer to the demand for clean energy. I have a price target of $5.28 by 2022. An entry at $1.35 would give an incredible R/R of 3.94/0.0064. An upside of 400% and a downside of about 10% if market structure breaks. Beware of the volatility, and search for a safe entry.
AMEX:UUUULong
by micahjmiller
XAUUSD: Buy opportunity on an RSI signal.Gold is consolidating on the 4H chart (ADX = 22.401, CCI = -23.5777) following Wednesday's 1,484 High. This is directly linked with the Nonfarm Payrolls as the market is ranging in anticipation of what the report will show. However even from a technical perspective this pattern has been previously formed within the very same Channel Up we've been trading in since the November 12 low. See the identical price ranges from lows to highs. Based on the bearish RSI we anticipate a pull back towards the 4H MA50, a level which should attract medium term buyers again. Our Targer Zone is 1,490.90 - 1,494.50. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XAUUSDLong
by InvestingScope
My Sentiments on XAU/USDThe Commodity has broken the 1494 - 1484 S/R zone, A highly volatile economic week being the main factor driving the commodity down and could continue down significantly.. Technical analysis : 1. Pin Bar formed on the D chart (25/10/19) signaling market rejection of the 1517 - 1513 price range, previous rejections making it a strong resistance zone 2. Price retraced to the 1517 - 1513 zone providing a good entry zone down. Current price is at a strong support zone and were anticipating a pull back up to the 1493 - 1473 zone This is a possible short buy opportunity as we look for the bear trend to continue.
OANDA:XAUUSD
by smugambike
Copper: Short opportunity within an Ascending Triangle.Copper (XCUUSD) is trading within a 1D Ascending Triangle (RSI = 56.277, MACD = 0.016, Highs/Lows = 0.0000). Last week it was rejected on the 2.7000 1D Resistance and that should make it test at least the 1D MA50 (blue line). In our opinion since the RSI has been consolidating in the past 2 months, the potential pull back can make a Higher Low on the 1D Ascending Triangle so our Target is lower at 2.57000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
OANDA:XCUUSDShort
by InvestingScope
Silver (XAGUSD): Bullish pattern spotted.Silver (XAGUSD) is trading within a newly emerged Channel Up on the 1D chart (RSI = 60.617, MACD = 0.050, Highs/Lows = 0.2338) following the October 1st bottom just above the 1D Support Zone. Both the 1D candle action and the RSI sequence resembles and October/ November 2018 fractal which delivered a strong rise once the Channel Up broke. Our advice is to take a careful long approach towards 19.000 - 19.500 moving the stop loss on the Higher Low of the Channel each time to limit the potential loss while keeping a maximum gain perspective. Check out also how we expect its relationship with Gold to trade: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XAGUSDLong
by InvestingScope
Platinum (XPTUSD): Bullish Megaphone towards a new Higher High.Platinum posted a strong rebound on the 871.00 October 2nd low and is currently rising on 1D (RSI = 62.934, MACD = 2.660, Highs/Lows = 16.6714) towards a new Higher High. The Higher High is designated by the 1M Megaphone pattern it has been trading within since August 2018. The 1D RSI patterns suggest that a new bullish leg may start without needing to make a Higher Low. Our Target Zone is 1,020 - 1,040. Keep in mind that XPTUSD has just initiated its new multiyear Bull Cycle, and we consider it a top investment in the coming years, a matter we analyzed on our long term analysis below: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDLong
by InvestingScope
2
KEN2020-KEK2020 - Commodity Spread on Coffee FuturesKEN2020-KEK2020 Rising triangle in formation on this spread between two wheat futures contracts. Statistically, in the previous 15 years of our seasonal window we have come to profit in 100% of cases with an average risk reward of 3:1. With this strategy we started trading years ago, bringing us considerable profits that made us understand that operating in the financial markets was an incredible potential source of income if done with professionalism and discipline.
CBOT:KEN2020Long
by SwissTradingSchool
US Oil Head and Shoulders/Bottoming PatternThis is a 2 hour chart of US Oil. I zoomed out a bit because I want you to see this support/flip zone we are at. Provides more confluence. Of course, you can easily see this on the daily and other longer term charts. We bounced from this zone and it seems we have exhausted the downtrend made up of lower highs and lower lows. Currently, we may have made our first higher low which requires a higher high to confirm. We appear to be in this process. I am waiting for the break and close above 53.30 which is also a flip zone and is a neckline for the head and shoulders we have. 55.00 would be our first target zone. Let's take a look at UK Oil too: I would say the similar criteria is being met, but the flip zone we want to see break is the 59.30 zone. Oil is interesting and I spoke about the geopolitics in a previous post. Oil is key for Russia and China in attacking US Dollar Demand and Iran is key for them. Linked below. However, I believe we are going into a recession (or maybe already in one) and oil will be suffering. I outlined this in my Aramco oil post. Everyone knows about repo. How the Fed is now once again expanding their balance sheet. Stimulus is coming. We are not in free markets anymore and banks require capital and need to be propped up. In the last oil downturn, governments forced banks to loan to suffering oil companies. These oil companies could not fall due to employment. This means that a lot of banks have loaned money to oil companies that they know will never pay back. Zombie companies. Oil for this reason needs to be propped up. This is the world and environment we are in as we head into the confidence crisis and closer to big government. Everything needs to be managed because banks will fail, pensions and retirements will fail (make money when stocks go up only).
TVC:USOILLong
by Uncharted-FX
Platinum (XPTUSD): Lower Buy Opportunity.XPTUSD has been on a very strong rise in late August almost hitting the 1,020 - 1,045 1M Resistance Zone. Despite trading on bullish 1W technical values (RSI = 64.131, MACD = 26.660, Highs/Lows = 45.6178), the volatility itself is high enough (ATR = 41.0321) to justify a pull back to the 1D Support (890). This is where we expect Platinum to seek buyers as long as the 1W MA50 (blue line) provides support. Once this pull back is completed we will aim again for the 1,020 - 1,045 Resistance Zone. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSDShort
by InvestingScope