Commodities - Update #12
Gold (XAU)
Seems like bulls are back, any retrace toward the green price range is a buy and stop loss at the most recent low. If we do break below this low then we might be in for a bigger retrace.
Silver (XAG) - bullish
Price has broken bearish market structure and is currently at a critical level for either for a perfect short or a long trade upon a strong break above $33.
Previous report's long trade idea was closed at break even and updated on our discord channel.
Wheat (ZW)
Literally saved by the bell as price almost hit our stop loss but seems we've had a decent reaction here. Price MUST reclaim above $595 rather QUICK.
Soybean (ZS)
The importance of stop loss and proper risk management illustrated in one chart. On our last report we said we manually exited the trade at break even as price was showing weakness and indeed price continued to retrace. There is no clear sign to jum
Sugar (SB)
Nope, nothing to see here. Price is making lower highs and lower lows. Any risk adverse traders there is a short trade entering as close as possible to $23 and targeting $20's.
Previous report HERE:
Luis Ricardo Guizado
Disclaimer
Not financial or tax advice. Zelf Trade is not a financial institution. No content on this Newsletter is financial, accounting, legal or tax advice. Zelf Trade content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
