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Commodity Markets: GOLD SILVER DXY IRON ORE OIL COPPER NICKEL URANIUM NATURAL GAS Elliott Wave


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Commodity Futures Market Summary: Elliott Wave Trading Strategies; US Spot Gold, GDX, Silver, Crude Oil, US Dollar Index DXY, Copper, Natural Gas, Nickel, Iron Ore, Uranium and Invesco DB Agriculture Fund EFT (DBA).
Market Summary: Stronger USD is seeing softer commodity prices. Soft commodities corn, wheat, sugar, and soybeans are dragging down the ETF DB Agricultural. Expect a small rally in gold and silver but the main trend is still lower in a larger corrective pattern.
Hard commodities nickel, copper and uranium are under pressure and have further downside. The energy sector crude and natural gas also have further declines to come.

Video Chapters
00:00 Dollar Index DXY/ 10 Yr Yields
02:42 US Spot Gold & GDX ETF
04:33 US Spot Silver
05:50 DBA Agriculture Fund ETF 
07:30 Crude Oil
12:00 Natural Gas
19:50 Iron Ore 
21:00 Copper
23:54 Nickel
25:05 Uranium ETF
27:12 Thanks for watching!

Peter Mathers TradingLounge™ 

 

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    • Asian indices took their cue from a poor finish on Wall Street, where bullish momentum faded thanks to declining energy stocks. Poor Chinese trade data hit sentiment in the Asia-Pacific region, as weakness in imports flagged fresh concerns about the Chinese economy. Lower oil and commodity prices hit markets on Wednesday, in part thanks to a revival in the US dollar. Overnight the yen saw fresh safe haven flows, taking USDJPY to its lowest level since mid-September, and hitting the Nikkei 225 hard. US weekly unemployment claims are the main event of the day, with a weaker open expected for most European and US indices.   
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