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Commodities - Keep on Giving (Weekly Update #8)
Commodities - Keep on Giving (Weekly Update #8) - Read the full update on Zelf Trade.
LR Guizado•
Commodities - Keep on Giving (Weekly Update #8)
Gold (XAU)
Macro = bullish / short term = neutral
Today’s 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 $2,500's.
Silver (XAG)
Macro = bullish / short term = neutral
Yes we are in profit from our entry but price needs to move quickly. We need a strong break above resistance of $29,300 for this move to continue towards $30’s. Stop has been adjusted at break even. $28.4 must hold.
Wheat (ZW)
Macro = bullish / short term = bullish
Took some profit already and leaving the rest run. Re-entry at $550's if price retraces from here.
Sugar (SB)
Macro = bullish / short term = neutral
We are closer to our long entry at $18. Price is showing some strenght in the daily chart, if we get an engulfing candle on today's close, bullish flip is in.
Soybean (ZS)
Macro = bearish / short term = bearish
6% take profit hit and completely out of the trade right now. Short term price structure is showing weakness. Patiently waiting for $980’s for re entry unless proven otherwise by a strong bullish flip above $1,020.
Corn (ZC)
Macro = neutral / short term = bearish
Nothing has changed here, still waiting for $390's retrace.
Previous report HERE:
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Commodities - Leading the Market!! (Weekly Update #6)
✅ +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
Zelf TradeLuis Ricardo GuizadoDisclaimer
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