Commodities - Update #16

Corn $ZC - MACRO BULL

Straight forward MACRO LONG to new ALL TIME HIGH. Easy 2x upside to previous all time high within a year and 5-10x upside within the next couple of years. There is a huge fair value gap or unbalanced zone to the upside (yellow) to be filled. The 3 month chart has finally started to show signs of reversal as price retraced to a key high volume zone (gray) and printed a bullish hammer candle.

+1.2% profit taken from entry.

Weekly timeframe is lacking strength and looking like it wants to retest the low $400's. Rather exit this trade and wait for a further retrace or jump in upon a break of previous highs.

Natural Gas $NG1! - MACRO BULL

All eyes on NG!!! Macro chart's about to confirm a bullish trend as chart is making lower highs and higher highs. Ideally we want a strong close above $3.6. Any retrace towards $2.5 should be a buy opportunity. HUGE FVG to the upside

Gold, Silver and Copper updates were posted on our private channels as all three printed daily doji's and/or bullish hammer candles at key turn around points. Now lets dive in into each individual ticker.

Gold $XAU

+6% profit as price perfectly pumped from entry.

Now we are standing at the perfect re entry point. If we get stopped out we'll look for a re entry as there is macro bullish confirmation on this trade.

Weekly chart closed with a bullish engulfing and expansive candle signaling more upside to come. Lots of confluence on this trade.

Silver $XAG

Not the expected run. Currently at break even and giving it a last chance to pump as price is showing some strength in lower timeframes. Tight stop re-adjusted at the most recent low. Silver usually lags behind gold which is currently bullish so might as well try holding this trade for longer.

Copper $HG

Same here, not the expected price action but still giving it a chance. Lower timeframe showing some strength at these level. Must react soon.

Stop remains at previous low.

Previous report HERE:

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Commodities - Update #15

Corn $ZC ✅ +7.2% TARGET HIT. Kudos for whoever jumped in. Now what’s up? Macro timeframe is showing strength. The weekly RSI is back above the 50 EQ. Last weekly candle closed with a bullish range expansion and engulfing bar. Now price has retraced and we are currently standing at

Zelf TradeLuis Ricardo Guizado

](https://www.zelf.trade/commodities-update-15/)

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