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Zelf TradeLuis Ricardo Guizado
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Commodities - Weekly Update #9
Commodities - Weekly Update #9 - Read the full update on Zelf Trade.
LR Guizadoâą

Commodities - Weekly Update #9
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+44% combined ROI
Gold (XAU)Â
Macro = bullish / short term = neutral
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First 3 day target hit.
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+4% profit from previous week's must hold level, now what?
Ideal long re-entry upon a retrace toward low $2,500's.
Bullish upon a strong close above $2,600.

Silver (XAG)
Macro = bullish / short term = neutral
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+8% profit. Price hit our target and sliced through it. Now what?

Bullish upon a strong close above $31.8.

Sugar (SB)Â
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+19% partial profit taken at market price. Beautiful bullish reversal.
Ideally if we break above $23 we should be long and strong macro. So far, the weekly chart looks extremely bullish.

Wheat (ZW)
Macro = bullish / short term = neutral
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+13% final take profit hit.

Standby for now. Ideal long re-entry at around $550 or upon a strong bullish break above $595.

Soybean (ZS)Â
Macro = bearish / short term = bearishÂ
Price seem to be holding well. We need a strong break above $1,022 for bullish continuation or wait for a retrace toward $980's.

Corn (ZC)Â
Macro = neutral / short term = bearish
Not my cup of tea. Nothing has changed here. Price action looks bearish short term and we might be in for a bigger retrace.

Previous report HERE:
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Commodities - Keep on Giving (Weekly Update #8)
Gold (XAU) Macro = bullish / short term = neutral Todayâs daily chart close is crucial. We are currently at resistance from previous highs and need a strong price move above $2,530 for bulls to regain control. Must hold level above $2,500âs. Silver (XAG) Macro = bullish / short term = neutral Yes
Zelf TradeLuis Ricardo Guizado
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