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Commodity Markets: Forex, Bonds, US Gold, Silver, Iron Ore,Copper Lithium,Nickel, Crude Oil, Natural Gas. Elliott Wave


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Commodity Markets: Forex, Bonds, US Gold, Silver, Iron Ore,Copper Lithium,Nickel, Crude Oil, Natural Gas. Elliott Wave
 
Commodities Market Summary: The USD DXY USDJPY are heading higher into Wave iii) and iv) corrections so are the FX pairs and so are GDX and US Spot Gold. So, there are no larger trends, just corrections.
 
Trading Strategies: No strategies as markets are in small corrective patterns.
 
Video Chapters
00:00 US Gov Bonds 10 Yr Yields
00:44 US Dollar Index DXY USDJPY, EURUSD, AUDUSD
05:50 US Spot Gold / GDX ETF
08:41 US Spot Silver
11:20 US Copper / Lithium / Nickel / Iron Ore
19:01 Crude Oil
21:21 Natural Gas
27:11 End
 
Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
 
Source: tradinglounge com Access Trial here... buy 1 month Get 3 months
 
 
 
 
 
 
 
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    • Nasdaq 100 and S&P 500 drop back as Hang Seng continues to rally US indices are struggling in the wake of Meta’s earnings last night, but the Hang Seng is showing fresh strength. Source: Getty Images Written by: Chris Beauchamp | Chief Market Analyst, London   Publication date: Thursday 25 April 2024 13:53 Nasdaq 100 rally torpedoed by Meta earnings The index reversed course yesterday, giving back most of the gains made on Tuesday, as earnings from Meta soured sentiment. The price remains well above last week’s low for the time being, but with more earnings from Big Tech due in the coming week, further upward progress may be difficult. So long as the price holds above last week’s low at 16,970 then a bounce may yet materialise. A close back above 17,700 would help to bolster the bullish view. Alternately, a close back below 16,970 will bring the late 2021 high at 16,630 into play, and then on down to the 200-day simple moving average (SMA). Source: ProRealTime S&P 500 stumbles on tech earnings This index also took a knock on Wednesday, though it continues to look like it has created a higher low. A push back above the highs of the week so far at 5093 would mark a bullish development, and would open the way to the 50-day SMA, and then on to the highs from late March at 5274. Sellers will want to see a reversal back below the 100-day SMA and below last week’s low at 4925 to provide a more bearish view. Source: ProRealTime Hang Seng surges through key level This index has seen an impressive bounce from the lows of mid-April, which has caried it above 17,000 and the 200-day SMA. It has also succeeded in closing above the latter, for the first time since July. If the price can manage a close above 17,200, then this will be a significant development. 17,200 was the high from early January, and also the peak of March and April, as well as being support from early November. Further gains target the November 2023 high around 18,300. A reversal back below the 200-day SMA would be needed to put more of a dent in the bullish view. Source: ProRealTime
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