Gold (XAU) 

We are making a small profit on this one. On the daily we did confirmed a bearish engulfing candle but was then reversed by price trending higher. 

Lower timeframe is telling a different story right now. Smart to take profit on our long here or adjust stop at previous low. Price is currently trading at resistance level, ideal short entry is now with tight stop at previous highs. 

Ideal long entry idea remains, we are waiting for a retrace towards $28. 

Short term there is a similar setup to gold. Short at market price, stop at previous highs and we will target the lows at $29. 

Soybean (ZS) 

✅ Kudos on this one, we are in profit and looking great. 

Adjust stop to break even. Target at $108’s.

✅ Kudos on this one too, we are also in profit and price is moving with a lot of strength. Let's hold on to this one as it's looking promising. 

Corn (ZC) 

Huge spike in price on this one. We had a daily 8% move, no setup hint to jump in; it was a huge spike in a 5 minute candle. Ideally we want price breaking above the previous high of $410 for further confluence on going long. Otherwise we are currently sitting at resistance area and might struggle here. 

Sugar (SB) 

Perfect bullish reversal here, the bottom seems to be in. Any retrace towards $18 is a must buy although it looks like price wants to keep on trending higher. No rush to jump in right now, the ideal entry should have been market price long on August 23rd huge reversal daily expansive bar. 

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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

Zelf TradeLuis Ricardo Guizado

](https://www.zelf.trade/commodities-weekly-update-5/)