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 the ideal re-entry point.
Entry market buy and dca now towards the stop.
Stop: $409
Target: $475
Copper $HG
Last week's long trade signal got completely invalidated and we got stopped out at a -1.2% loss but totally worth the RR. As always we updated the trade idea across our multiple channels of communication. We were lucky to get out on time as price simple plummet.
So what now?
Price is currently trading at a key level and has just taken liquidity off the previous lows. If we get a bullish hammer daily candle, which totally looks like we'll get. Then this is a market long to previous highs. We need to see a strong reaction from this lows.
Gold $XAU
Hope you all took advantage of previous signal of take profits. The signs were clear, the weekly chart was showing weakness and we had a time at mode expiry. Price has now plunged and looks no bueno. Not trying to catch falling knifes here. I'm completely out of this trade for now.
Silver $XAG
Stopped out at -0.40% loss from las trade. Price is back below key level and same as gold, completely out of this trade for now. Price might have a further retrace. Precious metals will continue taking a beating as long a stocks and crypto keep pumping.
Previous report HERE:
Luis Ricardo Guizado
Disclaimer
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