Commodities - Weekly Update #9

✅ +44% combined ROI

Gold (XAU) 

Macro = bullish / short term = neutral

✅ First 3 day target hit.

✅ +4% profit from previous week's must hold level, now what?

Ideal long re-entry upon a retrace toward low $2,500's.

Bullish upon a strong close above $2,600.

Silver (XAG)

Macro = bullish / short term = neutral

✅ +8% profit. Price hit our target and sliced through it. Now what?

Bullish upon a strong close above $31.8.

Sugar (SB) 

✅ +19% partial profit taken at market price. Beautiful bullish reversal.

Ideally if we break above $23 we should be long and strong macro. So far, the weekly chart looks extremely bullish.

Wheat (ZW)

Macro = bullish / short term = neutral

✅ +13% final take profit hit.

Standby for now. Ideal long re-entry at around $550 or upon a strong bullish break above $595.

Soybean (ZS) 

Macro = bearish / short term = bearish 

Price seem to be holding well. We need a strong break above $1,022 for bullish continuation or wait for a retrace toward $980's.

Corn (ZC) 

Macro = neutral / short term = bearish

Not my cup of tea. Nothing has changed here. Price action looks bearish short term and we might be in for a bigger retrace.

Previous report HERE:

Commodities - Keep on Giving (Weekly Update #8)

Gold (XAU) Macro = bullish / short term = neutral Today’s daily chart close is crucial. We are currently at resistance from previous highs and need a strong price move above $2,530 for bulls to regain control. Must hold level above $2,500’s. Silver (XAG) Macro = bullish / short term = neutral Yes

Zelf TradeLuis Ricardo Guizado

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