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Zelf TradeLuis Ricardo Guizado
Zelf TradeLuis Ricardo Guizado
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Commodities - Weekly Update #5
Commodities - Weekly Update #5 - Read the full update on Zelf Trade.
LR Guizado•
Commodities - Weekly Update #5
Gold (XAU)
Macro = bullish / short term = bullish
Daily chart is about to confirm a retrace on today’s close.
Our first long entry has just been hit, this should be a short percentage of your total position size you’re planning on building. The plan is to build a position all the way to $2,400’s. The $2,400’s level must act as support. If we lose that level then we might be in for a bigger retrace but so far the bullish trend is intact.
Silver (XAG)
Macro = bullish / short term = bullish
Short term bullish trend has just been confirmed.
Any retrace at around $28 is a long entry.
Targeting $31’s at first.
Soybean (ZS)
Macro = bearish / short term = bullish
Swing trade ON. Market long now.
Stop tight at previous low of $955.
Target $1018’s.
Wheat (ZW)
Macro = bullish / short term = bullish
$520’s accumulation level is still ON.
This trade is looking better and better. Huge RR.
First long target @ $590's.
Corn (ZC)
Macro = neutral / short term = bearish
NO TRADE. Nothing to do here, still looking weak.
Sugar (SB)
Macro = bullish / short term = bearish
NO TRADE. Price action’s looking weak, rather stay away for now.
Previous gold report here:
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Gold (XAU) - Rockin’ Higher
Edition #2 Macro = bullish / short term = bullish 🚀 🚀 🚀 From a macro perspective, the bullish trend has just been confirmed. With the current worldwide uncertainty regarding monetary policies, the wars going on and the political conflicts people tend to swift towards safe havens like gold since their store of value does not
Zelf TradeLuis Ricardo GuizadoPrevious commodities weekly update here:
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Commodities #4
Weekly Update #4 Gold (XAU) Macro = bullish / short term = neutral We are at a NO TRADE zone currently trading at resistance. For bullish momentum to continue, a break above the all time high of $2,484 is crucial. Bearish scenario, if price breaks below $2,430’s then we’ll
Zelf TradeLuis Ricardo GuizadoDisclaimer
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Disclaimer: This content was originally published on Zelf Trade.