A Comprehensive Commodities and Futures Trading Market Analysis with Elliott Wave and Trading Strategies
Welcome to our in-depth Commodities and Futures Trading Market Report, where we employ the power of Technical Analysis using the Elliott Wave theory and present valuable Trading Strategies. This analysis encompasses a variety of critical factors, including US Bond Yields, USD, DXY, US Gold XAU, GDX, Silver XAG, Gold Stocks, Iron Ore, Crude Oil, and Natural Gas.
Video chapters
00:00 US Gov Bonds 10 Yr Yields / AU 10 Yr Bonds.
04:12 Forex: US Dollar Index, DXY, EURUSD, AUDUSD.
10:35 Precious Metals: Spot Gold / GDX ETF / US Spot Silver.
17:12 Base Metals: Iron Ore, XME ETF, Copper.
25:02 Energy: Crude Oil / Natural Gas / XLE ETF.
Commodities market summary: USD DXY and its impact on commodity trends
A focal point of our analysis revolves around the potential movement of the USD DXY. The pivotal question is whether the USD DXY will decline from its current level of 101, which holds the key to influencing other commodities and Forex markets, potentially driving them higher. Understanding the dynamics of the USD DXY is vital for making informed trading decisions in the commodities space.
Crude Oil's fascinating prospects
At present, Crude Oil has been surging, and it seems to be heading towards a significant resistance level at $80.00. This juncture has the potential to form a Classic TradingLevels pattern, specifically at the Major TradingLevel (TL8|80.00). Such patterns often signal crucial turning points and provide opportunities for long trades. As a result, traders should closely monitor Crude Oil's price action for the next potential trade setup.
Natural Gas: The next trend higher
Amidst the commodities landscape, Natural Gas is displaying promising signs as it aligns itself for a potential upward trend. As traders, we are keeping a close eye on this commodity, anticipating a favorable opportunity for long trades.
Trading strategies: Navigating the markets with confidence
To ensure that you capitalize on the potential opportunities presented by the commodities and futures markets, we have crafted well-researched Trading Strategies. These strategies are carefully designed to align with the principles of the Elliott Wave theory and Technical Analysis, empowering you to make informed decisions and mitigate risks.
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
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Editors’ Picks
EUR/USD treads water just above 1.0400 post-US data
Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.
GBP/USD remains depressed near 1.2520 on stronger Dollar
Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.
Gold keeps the bid bias unchanged near $2,700
Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
Geopolitics back on the radar
Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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