Updated: Jan 20
Despite the weaker Dollar throughout the weak, stock indices continue its fall for seven weeks straight. The S&P500 has fell more than 20% and its at the bear market territory. The economist had a magazine release indicating the rising price of agricultural commodities. Could this be a contrarian sign, indicating a potential fall in commodities? Supported by the cycle analysis of instruments, we have began the fall of stock indices and commodities could be the next in line.
Upcoming Economic Release:
Dollar Index (DXY)
The Dollar was unable to maintain its strength throughout the week and fell back towards support level at 102.84. We may potentially see a further fall in the Dollar if the support does not hold.
Spot Gold (XAU/USD)
Gold retraced some of the decline from last week due to the weakening of the Dollar. A break of the 1850 resistance area could potentially show push price towards the 1900 area.
Sugar #11 May (Analysis 17-3)
Recap (Week 18 - 3 Weeks Ago) Take Profit - 1
Recap (Week 20 - Last Week) Take Profit - 2
Long position reached Take Profit - 2 level where we announced to close / partial.
Corn - Futures July (Analysis 19-2)
Recap (Week 20 - Last Week) Take Profit - 1
Long position reached Take Profit - 1 level where we announced to close / partial / risk free.
Trade Analysis / Setups
Copper - Jul Contract (Analysis 21-1)
Long opportunity: Buy at market reopen as High Risk Trade, towards 4.410 as Take Profit - 1 level.
Soybean Oil - Jul Contract (Analysis 21-2)
Long opportunity: Buy at market reopen as High Risk Trade towards 83.17 as Take Profit - 1 level.
Cheers to all our member who managed to pack some profits this trading week.
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