Commodities Market Trading Report - Technical Analysis is Elliott Wave and Trading Strategies.
Content: US Bond Yields, USD, DXY, US Gold XAU, GDX, Silver XAG, Gold Stocks, Iron Ore, Copper, Uranium, Crude Oil, Natural Gas.
Commodities Market Summary: While the USD continues higher, gold and silver will continue to be lower. Copper will continue lower, while Uranium is in a bullish Wave (iv) corrective pattern. Crude Oil is creating five waves down from the high and Natural Gas still hasn’t given a buy signal.
Video chapters
00:00 TLT Bonds. US Gov Bonds 10/5 Yr Yields.
07:19 US Dollar Index, DXY.
12:02 Precious Metals: Spot Gold / US Spot Silver / XGD.
27:37 Base Metals: XME ETF, Iron Ore, Copper. Uranium URA.
33:35 Energy: XLE ETF / Crude Oil / Natural Gas.
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Editors’ Picks
EUR/USD stays below 1.0400 ahead of US inflation data
EUR/USD struggles to stage a rebound on Friday and continues to trade below 1.0400 following Wednesday's sharp decline that was caused by the Federal Reserve's hawkish tone. Investors await November PCE inflation data from the US.
GBP/USD touches fresh multi-month low below 1.2500
GBP/USD recovers to the 1.2500 area after touching its lowest level since May near 1.2470. The pair stays on the back foot after the Fed and the BoE policy announcements this week pointed to a potentially diverging policy outlook.
Gold price holds steady around $2,600; upside potential seems limited
Gold price attracts some haven flows amid the looming risk of a US government shutdown and trades near $2,600. The global flight to safety-led pullback in the US bond yields further benefits the XAU/USD. The Fed’s hawkish stance acts as a tailwind for the USD and should cap any further upside.
Bitcoin, Ethereum and Ripple crash, wiping $1.17 billion from the market
Bitcoin price trades below $98,000 on Friday after declining more than 6% this week. Ethereum and Ripple followed BTC’s footsteps, closing below their key support and declining 12% and 4.5%, respectively, this week.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
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