Commodities - Leading the Market!! (Weekly Update #7)

✅ +27% combined profit 🚀

Gold (XAU) 

Macro = bullish / short term = neutral

2% short hit, great RR. Idea posted on last commodities report.  

The daily chart is showing bullish strength but there’s no need to jump in at market price as we are in the middle of a trading range. Price needs to break above the highs of $2,530 for further bullish confirmation.

As mentioned in our Gold - Rocking Higher report (click HERE to redirect), the first long entry was at $2,490, we are currently in profit 1% and will be selling most at previous highs. 

Silver (XAG)

Macro = bullish / short term = neutral

Previous short idea hit with a 3% profit and retrace continued to our ideal long entry of $28 which we also recommend in our previous post. We are now long with stops adjusted at entry price. Targeting previous highs of $30’s.

Soybean (ZS) 

Macro = bearish / short term = bullish

Perfectly executed long 6% profit, we sold most of our position and left a small percentage run as price is still looking strong. ideally we want a break above previous high of $1,042 for further bullish confluence.

Wheat (ZW)

Macro = bullish / short term = bullish

11% profit already. Targeting previous highs of $490’s, we are almost there.

Corn (ZC) 

Macro = neutral / short term = bullish

Price action has just confirmed a bullish flip. 

A retrace towards $390’s is a long entry 

Sugar (SB) 

Macro = bullish / short term = bullish

Price action is indicating a possible short term retrace. If so, the $18 area is a must buy long area or long upon a clear break above previous highs. 

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.