Tag Archives: commodities

Buy Copper After reaching our previous profit this pullback up to the trendline happend. Now it is time for the last upward move before we may see a big break of this uptrend and great downward potential. TP: 2.713 SL: 2.597

Sell cocoa TP: 2230 SL: 2600

Buy Wheat Since wheat broke out of the last downtrend line we saw a touch of the resistance zone which you can recognize by the blue area on the left side in the image. We touched that resistance zone. After that we had to make a retest of the downtrend we broke out. So now we have made the restest it is time to go up again. The first target is the resistance zone again, since the zone is a realy important one. If we continu and break the resistance a new high up to the green arrow is possible. Rememer: Support becomes resistance and resistance becomes support. 1st TP: 5.5 2nd TP: 6.05 SL: 4.3

Sell Soybean Soybean broke the smaller downtrend (green line). But now we run up to the bigger downtrend which seems to hold strong after these three tests in the last time. Because we hit the downtrendline (resistance) three times allready and doesn’t break I think we are ready to go down. The first target will be around the smaller downtrend line. Because support becomes resistance and vice versa. TP: 8.295 SL: 9.281

Buy Coffee This is a long waited BIG breakout for Coffee. As we can see this downtrend has been going on since 2014. This wedge is building for a long time. This also means we can expect a retest of this downtrend. I think the retest will be on the green downtrend line. If we continu the uptrend and break out there is big room for creating a reverse uptrend.

BUY COCOA Coca has been waiting to make a bigger upswing for a longer time now. As we can see we have a uptrend line wich is bown. This trendline holds for over two years now, wich means we can rely on it. The swing to the upside will first fill up the demand zone wich is between 2400 and 2800. After that we may retest the top of 2900. This is a low risk trade. TP: 2904 SL: 2207

Sell Soybeans We hit our downtrendline on the upside, which means we go down again to complete the wedge. First target will be the old support. Since the support was broken, retested and failed to continu this is now a stronger support than before. TP: 8.038 SL: 9.024

Buy Soybeans I just zoomed out to the daily chart for this one. I’ve been expecting downward movement for SOYBNUSD since november. You can see the red dotted lines and blue arrows which I’ve drawn in November allready. Just updated this chart and expecting a pullback to the fibonacci 0.382 zone (at least). If we break this orange support quickly there may be a big downward movement coming! TP: 8.46 SL: 7.90

Buy Corn Every time corn breaks out the wedge it is building to create a new wedge. I expect a new breakout soon. It is a long term trade as you can see, but as far as I can see also a safe one. TP: 4.12 SL: 3.25

10/17