Commodity Blog

Posts Tagged ‘chart’

On the daily chart of a corn a symmetrical triangle pattern has formed.The downward breakout is probable as this pattern tend to break in the direction of the previous trend. But symmetrical triangle can break in any direction, so you can wait for a breakout to see where the price is going and minimize the risk. Anyway, in this case the pattern is weak and, wherever the price will be going, movement should not be strong. Click the image to enlarge it to a full-size screenshot:

This video presents a short-term technical analysis of the spot gold chart based on the Japanese candlestick patterns. The period of the last 15 days is reviewed, marking up the most important daily candles and the support/resistance levels that were formed by these candlesticks. In the end the short-term target for the gold is given. I recommend watching this video if you want to profit from the next few days’ move in gold disregarding your current long-term stance on this commodity.

This 10-minute video contains many technical chart reviews for the popular trading commodities. The long-term end of the year (2009) review helps the traders to understand how the trends may continue to move in 2010. The author of this video reviews in details the technical picture forming on the charts of the following commodities: soybeans, bean oil, corn, wheat, oats, silver, gold, palladium, platinum, sugar, cotton, orange juice, coffee, cocoa, crude oil, natural gas, heating oil and other trading instruments, including some of the currencies.

On the daily chart of a palladium a pattern has formed. This is a head-and-shoulders pattern. This patter shows that a downward breakout is possible from current support level (blue line) to target price $338.92 (bottom red line). The level of target price will become new support level. The top red line (shoulders level) indicates a stop-loss level in case pattern would not be confirmed. Click the image to enlarge it to a full-size screenshot:

This gold trading technical analysis video brings up the update of the current market situation with this popular commodity. The author of the video demonstrates an inverted Head and Shoulder chart pattern that formed on a daily chart since March 2008 and triggered a strong bullish trend in early October this year. The technical analysis suggests next long-term targets at $1,250-$1,300 per ounce. But the speculative and highly emotional nature of the bullish gold market can push it significantly above those levels.

In the last 10 months on the weekly silver chart the bearish Wolf Wave pattern has formed. In case of the resistance level (yellow line at 15.76) breakout pattern will be confirmed and the withdrawal downward approximately along the line of the gray arrow may be possible. Click to enlarge the image to a full-size screenshot:

On the daily September sugar futures chart a downward symmetrical triangle pattern has formed. As you can see on the image, price is near the apex of pattern. Breakout is possible here soon. As this is a continuation pattern and sloped downward, the breakout will most likely be bearish. Click to enlarge the image to a full-size screenshot:

A similar chart pattern has formed on the daily zinc chart. As you can see on the image, the price is rather far away from the apex of pattern. Breakout is possible in near future. Considering a long-term bullish trend on zinc, the breakout will most likely be upward. Click to enlarge the image to a full-size screenshot:

This video takes a closer video at such popular and high-probability price chart patterns in the commodity markets as 1-2-3 pattern and bull flags. Both of them are quite easy to spot and analyze. Watch the video for more details on how to actually do it and how to trade when you see these price patterns.

On the gold chart (weekly timeframe) formed symmetrical triangle pattern. It has a high probability of bullish breakout. But before any breakout it will reach its upper sloping limit one more time. But traders should be careful because it’s not horizontal. Click to enlarge the image to full-size screenshot:

A sort of symmetrical triangle chart pattern has formed on the weekly timeframe on the cocoa price graph. It’s not a classical triangle pattern, since it’s actually pointing up, but it’s still close enough to symmetrical triangle, offering a good opportunity to enter on the breakout. This pattern is most probably a continuation pattern that will lead to a new uptrend after a consolidation, which is active since February 2008. Click the image to get the full-size screen capture of the chart: