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Commodities - Leading the Market!! (Weekly Update #7)
Commodities - Leading the Market!! (Weekly Update #7) - Read the full update on Zelf Trade.
LR Guizado•
Commodities - Leading the Market!! (Weekly Update #7)
✅ +27% combined profit 🚀
Gold (XAU)
Macro = bullish / short term = neutral
2% short hit, great RR. Idea posted on last commodities report.
The daily chart is showing bullish strength but there’s no need to jump in at market price as we are in the middle of a trading range. Price needs to break above the highs of $2,530 for further bullish confirmation.
As mentioned in our Gold - Rocking Higher report (click HERE to redirect), the first long entry was at $2,490, we are currently in profit 1% and will be selling most at previous highs.
Silver (XAG)
Macro = bullish / short term = neutral
Previous short idea hit with a 3% profit and retrace continued to our ideal long entry of $28 which we also recommend in our previous post. We are now long with stops adjusted at entry price. Targeting previous highs of $30’s.
Soybean (ZS)
Macro = bearish / short term = bullish
Perfectly executed long 6% profit, we sold most of our position and left a small percentage run as price is still looking strong. ideally we want a break above previous high of $1,042 for further bullish confluence.
Wheat (ZW)
Macro = bullish / short term = bullish
11% profit already. Targeting previous highs of $490’s, we are almost there.
Corn (ZC)
Macro = neutral / short term = bullish
Price action has just confirmed a bullish flip.
A retrace towards $390’s is a long entry
Sugar (SB)
Macro = bullish / short term = bullish
Price action is indicating a possible short term retrace. If so, the $18 area is a must buy long area or long upon a clear break above previous highs.
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Disclaimer: This content was originally published on Zelf Trade.