Commodity Trade Mantra

Posts Tagged ‘Fibonacci Levels’

A Clear Picture of the Current Development in Silver Price Charts

Breakouts are usually followed by the pullbacks to the broken trendlines. Market participants book profits and think over their next steps. Today I would like to update the monthly chart for silver as it is always better to see once than to read/hear about it many times. Now we have a clear picture of the current price development in silver. Let’s see how it goes!

Gold Prices Are Attempting to Carve Out Higher-Low Support

We’ve seen multiple instances of buyers coming in to further support gold prices above the fresh near-term low on Thursday of last week at $1,320 level, producing a series of short-term higher-lows on the 4-hour chart. Traders looking to treat the Gold setup aggressively could look at this attempt to carve-out higher-low support as a potential top-side entry.

Maybe Oil Goes to $70 on its Way to $40

Crowded trades unwind in precisely this sort of freefall. When the conventional media ordains oil inevitably dropping to $40/barrel, I start looking for something else to happen–like oil going to $70/barrel. There are number of reasons this isn’t as farfetched as it might seem at the moment. Buying begets buying, shorts start covering, and voila…

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