Happy New Year.
However just after a few days into the new year, big news are already popping around the headline. I am talking about US-Iran-China!
I have been previously emphasizing on going LONG for GOLD. Price has reached new high and with the recent tension. Be sure to look out for LONG opportunities!
*Do note that price is nearing the weekly resistance / neckline of previous dump
Exit trades if reversal is strong
Soybean has hit a major resistance at previous high and I have shorted at this level. (I closed my long earlier but its ok) but now I will be looking for short term short opportunities.
*Look out for the current price in circle. SHORT IT if prices show signs of weakness (divergence / strong red bar / support breached etc.)
Palladium has previous reversal as stated and I added more position when the neck line was broken. NEW HIGHS!
*You can look for power of two reversal to go long too!
Sugar seem to be consolidating at one of the key levels. Will go long once the resistance is breached (or as I have identified in my previous post , long at ~13.00). Remember to place ur stop loss!
The S&P has been trading in the range for several days. I will be looking for short opportunities as hedge if the support does not hold!
Safe trading! Cheers!