Commodities Update
Most commodities price continue to go lower due to stronger USD except for Feeder Cattle and Cocoa . Advise to have short term or intraday trade unless is in UT.
I will continue to have lesser trade on commodities and more on Forex and Indices
I may consider to trade if there is a long signal on the following:
- Cotton (DT),
- Coffee (UT),
- Orange Juice (UT)
- Feeder Cattle (UT)
- Cocoa (Neutral)
- Rough Rice (DT), Wheat (DT)
- Natural Gas (DT), Gasoline (DT), Heating Oil (DT)
- Copper (DT), Silver (DT), Platinum (DT), Palladium (DT)
Commodities
Instruments that show buying interest by Producer/Merchant/Processor/User
Down Trend
- Sugar
- Coffee
- Corn
- Soybeans (1)
- Soybean Meal
- Wheat
- Rough Rice (1) (2ET formed but range bound within 12 Sep bar)
- Cotton (1)
- Natural Gas (1) (Consolidating for 3 weeks)
- Gasoline (1ET formed)
- Heating Oil
- Copper (1ET formed)
- Platinum
- Palladium
- Silver (1)
- Gold
- Copper
Neutral
- US Cocoa (1ET formed)
Up Trend
- Feeder Cattle
- Orange Juice (Trading range bound within 26 Aug bar, be careful)
Note
(1) COT Index > 90
(2) Price may have hit bottom
Down Trend and Up Trend is based on 50 Simple Moving Average
No comments:
Post a Comment