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Crude oil ETC (CRUD) UpdatesThe negative trend that seemed to be pointing towards the up trendline created in November 2020 has been stopped in the last two weeks. Various macroeconomic aspects are complicit, most recently the hurricanes that hit the Gulf of Mexico and slowed down the recovery of Brent production. By the way, Crude oil has dropped a few points in the last two sessions, given the gradual but continuous recovery of US offshore production. The trend remains bullish in the medium to long term, with the price of this ETC which is about to test the resistance created on the € 5.75 price level corresponding to $ 75.5 per barrel of the reference future (CL1!). If the price were to break this price level, it would quickly reach € 6 and then aim for 6.50, which is very important in terms of volumetric analysis. Obviously, crude oil production in this last quarter must be monitored. In fact, historically, seasonality suggests a rather important decline between October and December, although we must remember that the coronavirus was the classic black swan that shuffled the cards. Happy trading. DISCLAIMER: I am not a financial advisor nor a CPA. These posts, videos, and any other contents are for educational and entertainment purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.
MIL:CRUDLong
by LazyBull5
Crude Oil (CRUD) UpdatesQuick update on crud oil (the investment is on the "CRUD" ETC as you well know). No fundamental news from OPEC, so let's analyze the chart, because we have reached an important point. After the retracement practically lasted from 6 to 20 July, the price with a classic "V shape" is returning to the 5.80 area. I highlighted a similar situation in the past when in May, after some profit-taking, there was a double top in the € 5 zone. It is not certain but it is highly probable that such a situation will repeat itself when the price touches the previously mentioned level. As far as I am concerned, I have already said that I consider the level of 8 € the real target, but obviously, we are talking about a raw material, very linked to what is happening in the world, in a moment of recovery, but recently threatened by the Delta variant. of the virus. A very uncertain picture and the markets generally don't like uncertainty. We must constantly follow the news and check that the price does not fall below the level of 5. 05 that I recently traced. In fact, this could mean a trend reversal and for many who may have an entry price close to that level (possible since it was a breaking point of an important resistance). a risk of a possible loss. But by far, August 1st, the price has returned to the uptrend channel clearly visible on the chart, which I have drawn. This we know. In an ideal scenario, there should be a strong break with a daily candle closing above 5.80. If accompanied by volumes it would be a clear signal of continuation of the trend. In the event of a retracement, for those who have been investing for a long time, the most interesting levels to add positions are 4.577 (green line on the chart) and the SMA 200 moving average. I remember that we are talking about a commodity, so the scenarios could change radically at a fundamental level, so if you were long, follow the economic calendar, the trend of the dollar, and the seasonality very carefully. however importance. Lazy Bull
MIL:CRUDLong
by LazyBull5
Coffee has been the inflation laggardWhile the debate between inflation vs deflation continues, I'd prefer to focus on the data and the price action, We've seen a lot of inflation in the data, which has been reflected across the commodity complex. The 2 laggards have been Coffee and Natural Gas. Now this may well roll over as growth slows in Q3 (mathematically it has to)..but given another CTRL - Alt - Print from the Fed let's see the impact on $USD and if we get continuation in upward trending commodities. Personally I'm in the 'inflation is stickier than the central banks may think' camp....for now.
MIL:COFFLong
by taylorsan
Wheat: The most bullish commodityCentral banks can print currency but they can't print wheat! While tech and high growth stocks were in favour during the economic expansion, hard assets and necessity goods are likely to be in favour during the stagflationary period to come. Even in a recession, people need to eat! We have broken the 2009 downtrend and formed an inverse head and shoulders as a base. If wheat follows gold's lead to all time highs there are +900% grain gains ahead!
LSE:WEATLong
by ChartSpartan