CommodityTrends Weekly Newsletter
Check our CommodityTrends Weekly Newsletter.
Our Weekly Newsletter is published on a weekly basis. It is available online as well as emailed each week, exclusively for members of CommodityTrends.
View the trade opportunities and commodity markets Jim is watching to see where the markets may be headed.
Silver Futures Market Breakdown
Silver has been shining lately—up over 12% in the last few weeks!
With this recent surge, I decided it was time to dig deeper using top-down analysis.
In this week's Training Video, I walk you through it step by step. We begin with the big picture on the monthly chart, zoom into the weekly chart, and then analyze the daily chart for more precise insights. There's a lot happening in silver right now, and I break it all down for you!
Enjoy the video!
Click here to watch (You must be logged into the website to access it.)
Markets I'm Watching
View the trade opportunities and markets Jim is watching along with the Trend Seeker rating per commodity to see where the market is headed. Here are the markets and opportunities I am watching right now. For more information about these markets, be sure to check My Chart Book and CommodityTrends Daily Video Service.
May Rough Rice has produced a 1-2-3 bottom formation. Long positions can be considered at current levels. If filled, the initial stop loss can be place eithre below the #3 point or the #1 point. The initial target is the green horizontal line at 13.970.
Three weeks ago I wrote. . . "Jun Canadian Dollar has developed a 1-2-3 bottom formation. An entry to the upside was triggered on March 05. The initial stop loss can be placed below the #3 point (if it meets your risk tolerance). The initial target is the daily 50% level at 0.71443."
At the time of this writing, this setup is still active. Keep your stops!
Note: A flat top triangle has also developed. This is typically considered a "bullish" chart pattern.
Jun 30-Year T-Bond has formed a fish hook at a support level. A long paper trading entry can be established on a break above today's high as early as the next session. If filled, the initial stop loss can be placed just below Thursday's low. The initial target is the daily 50% level at 118-05. Keep watching.
May Cotton #2 has developed a 1-2-3 bottom formation. An entry to the upside can be considered if price can retrace into the blue rectangle. If filled, the initial stop loss can be placed below the #3 point (if it meets your risk tolerance). The initial target is the resistance at the horizontal blue line at 68.82.
Two week's ago I wrote. . . "May Lumber Physical has developed a 1-2-3 top formation. A break below today's low (as early as the next trading session) will trigger an entry to the downside. If filled, the initial stop loss can be placed just above the #3 point. The initial target is the bottom of the monthly resistance zone (purple rectangle) at 627.97. [Please be aware that this is a "thinly" traded market (low volume) and can produce large price swings.]"
The stop would have been triggered March 24.
