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COMMODITIES: Bitcoin, Bonds, DXY, Gold, Silver, Iron Ore, Copper, Uranium, Oil, Gas. Elliott Wave

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TradingLounge's Daily Commodities Market Trading Report - Technical Analysis is Elliott Wave and Trading Strategies
Content: Bitcoin, US Bond Yields, USD, DXY, US Gold XAU, GDX, Silver XAG, Gold Stocks, Iron Ore, Copper, Uranium, Crude Oil, Natural Gas.
Commodities Market Summary:
TLT Bonds will bottom out when US 10 Yr. Yields top out - Elliott Wave count Wave (v) of iii) of 3 of (5) of A). USD DXY could also be in line with the US Yields, in the short term as the DXY pushes higher Wave (iii)of v), placing pressure on US Spot Gold and Silver which will move lower as Wave 2 and it’s this Wave 2 retracement buying opportunity and I will focus on US and ASX gold stocks as the gold trend will be long term.
Uranium is another market in a long-term trend and still offers a reasonable long-term position.
Iron Ore could be setting up for a higher move and my focus will be on Iron Ore stocks such as RIO, Vale and FMG.
Natural Gas is heading higher towards the US $4.00 level.
Bitcoin: Elliott Wave iv at 35,000. Expect a slow choppy pattern to 40,000

Video Chapters
00:00 Bitcoin (BTC) SOLUSD
05:34 TLT Bonds. US Gov Bonds 10 Yr Yields
08:17 US Dollar Index, DXY
09:22 Precious Metals: Spot Gold  / US Spot Silver / XGD and Gold Stocks US / ASX
22:31 Base Metals: XME ETF, Iron Ore, Copper. Uranium URA.
28:59 Energy: XLE ETF / Crude Oil / Natural Gas 
40:26 End

Analyst Peter Mathers TradingLounge™ 


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    • Thanks for sharing @THT I highly doubt that gold will fall below the 1900 level, which is the lowest support level on the monthly time frame. Right now, the current pullback in gold is nothing but a FALSE MOVE to the downside which ALWAYS takes place before a REAL BREAKOUT. This FALSE MOVE can last no longer than 1-3 time units and is simply the REQUIRED movement of markets. Gold is setting up for a major sling-shot to the upside.
    • Had this on my chart (daily) for a long time Next watch for one of those 2 scenarios above unfolding THT
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