Gold (XAU) - Bullish momentum continues. 

The swing trade here has already been made. In our previous reports we’ve given the entry and target levels which perfectly hit a 5% swing trade and we’ve given the long re-entry at $2,380 (already hit). If you did jump in at this last dip we’d advise to place your stops at break even. We are currently in a NO TRADE ZONE. Previous report below:

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Commodities - Weekly Update #2

July’s monthly close Gold (XAU) Perfect monthly close with a bullish expansive bar closing above previous all time high signaling bullish strength. https://www.tradingview.com/x/ROyhzkRU/ On our last weekly update we posted this setup long on $2,360 and we had a nice 4% long swing from

Zelf TradeLuis Ricardo Guizado

](https://www.zelf.trade/commodities-weekly-update-2/)

Bullish scenario, we break above all time high and price is able to maintain above $2,450 then LONG we go. Bearish scenario, we lose $2,380 and sub $2,300’s retrace will be on its way. 

Perfect 9% short trade on this one. Kudos to anyone who jumped in. On our previous weekly report we said: “break above $29.7 for a scalp swing long target $31’s or short entry at market price to target $26.5”. Price was unable to break above $29.7 and the short idea has been perfectly hit now. 

We are currently at a critical level trading under previous highs which means short term we are BEARISH and looking at low $25’s as the first interest level to long depending on price action once and if we hit that level. On the other hand if we break above $29,7 we’ll flip bullish and LONG WE GO but for now there is no rush in taking a position. 

No signs of life here, bearish structure remains the same looking at a macro retrace towards the low $300’s. Short term is also bearish and unless we flip above $393 there is no point in going long right now. Ideal short entry as close as possible to $390 to target low $340’s at first. 

Macro and short term bearish, any pump towards $1,038 is a short entry. Invalidation and trade flip long upon break above $1,043 upon this level acting as support. 

Temporary support has been found. 

We need to trade back above $555 and its GAME ON. 

Sugar (SB) 

Higher timeframe remains extremely bullish. 

Short term there is an aggressive long play with entries as close to $18 as possible and targeting $19’s at first. If price action flips bullish above this level then it’ll be game on for high $20’s.