31Jan

Commodity Market Insights: Crypto Trends, Forex Movements, and Metals Analysis for Strategic Trading

Commodity Market Elliott Wave Analysis: Bitcoin has an Impulse wave up of its 40k low. Interestingly, this pattern is not confined to Bitcoin alone; similar tendencies are discernible in other cryptocurrencies like DOT and XRP. I intend to engage in a discussion with Kittiampon to delve into these developments further, exploring potential long positions within the crypto market on the up-and-coming Elliott wave abc corrective retracement.
Shifting our attention to the Forex market, the USD DXY is maintaining its elevated position. Nevertheless, noteworthy movements are underway, with the CAD and CHF exhibiting indications of a potential downside break, while the AUD and other currencies are showcasing an upward trend. That said, it is not confirmed that the USD / DXY will move lower.
Turning to Precious Metals, silver is manifesting signs of an impulse wave pushing it higher. I am contemplating taking advantage of a buying opportunity during the abc wave b correction. On the other hand, Gold presents a slightly different scenario, prompting me to explore potential entry points during its retracement.
Base Metals, there are unfolding developments suggestive of the later stages of an impulse wave higher for copper, while Iron Ore is still working through Wave B of an ABC corrective pattern before further upside and Uranium is being held at 30.00 dollars Major TradingLevel 3 (TL3)  My attention is directed towards identifying potential long trade setups during the retracement phase, with a particular emphasis on stocks such as BHP, RIO, FMG, VALE, among others.

Video Chapters
00:00 Bitcoin (BTC)
05:44 US Dollar Index, DXY 
07:25 TLT Bonds. US Gov Bonds 10 Yr Yields
10:38 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 
13:57 Base Metals: Iron Ore, Copper XCU/USD. Uranium URA ETF
16:23 Energy: Crude Oil WTIOIL / Natural Gas NG
25:51 End

Join TradingLounge & Learn from the experts - Best Value for Elliott Wave

See the previous Commodity Video here

Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
Source: tradinglounge.com  Join & Learn from Experts

Related

Gold (XAUUSD) Elliott Wave Technical Analysis: Points to a Potential Surge to $2200

Gold (XAUUSD) Elliott Wave Technical Analysis: Points to a Potential Surge to $2200

our analysis suggests a favorable outlook for Gold, presenting potential buying opportunities for tr...

Read More >
ADANI POWER Stocks Elliott Wave Technical Analysis - Including Stock Price Targets, Stock Performance and Market Trends

ADANI POWER Stocks Elliott Wave Technical Analysis - Including Stock Price Targets, Stock Performance and Market Trends

This article provides an in-depth Elliott Wave analysis of ADANI Power, including stock price target...

Read More >
Unlocking ASX Trading Success: REECE LIMITED – REH Stock Analysis & Elliott Wave Technical Forecast

Unlocking ASX Trading Success: REECE LIMITED – REH Stock Analysis & Elliott Wave Technical Forecast

This article provides a detailed Elliott Wave analysis of ASX: Reece Limited (REH), exploring potent...

Read More >
Unlocking Potential Gains: META Platforms Inc. (META) Elliott Wave Technical Analysis offering actionable insights

Unlocking Potential Gains: META Platforms Inc. (META) Elliott Wave Technical Analysis offering actionable insights

Elliott Wave Analysis for META Platforms Inc. (META) dated February 16, 2024, offering actionable in...

Read More >
British Pound/U.S. Dollar(GBPUSD) Elliott Wave Technical Analysis 30 January 24

British Pound/U.S. Dollar(GBPUSD) Elliott Wave Technical Analysis 30 January 24

Trading Lounge Day and 4H Chart for GBPUSD Elliott Wave Analysis dated 30 January 24, provides a det...

Read More >
Embrace the Dip Strategy for Optimal Results: Copper Commodity Elliott Wave Technical Analysis

Embrace the Dip Strategy for Optimal Results: Copper Commodity Elliott Wave Technical Analysis

Unlocking the potential of Copper through Elliott Wave Technical Analysis 28 February 24: Discover s...

Read More >

Buy 1 Month

Get 3 Months!

Special Offer:

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competive edge with expert insights in to:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Social Chat
  • Elliott Wave Algorithm
  • Screener
  • TradingLevels
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
-Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on