A view on commodities

[DSM]

Narangji,

Bottoming out does not mean an upmove. Sideways/volatility within a rangeof the last monthly bar is possible, before a reversal.... Yesterday's Gap got sold into. We can expect more such moves before we can say that an upmove is possible. Look for similar analysis on weekly chart to get an idea on the weekly TF.

I somehow feel crude has bottemed out, don't see much selling pressure, if you guys compare chart since last year september till date you wont see a single weekly swing, except from the one that happened in feb, we can also see classic undercut bottom this month, which tells pressure of selling is off.

What do you guys think? Let me know

 

[narangji]

Hi

DSM I think you should post daily analysis of Crude or other commodities here, It will help me and many other's. Would request you to post your analysis here more often.

Many Regards
Narangji

 

[DSM]

Narangji, I don't have any idea at the start of the day of being bullish or bearish by any analysis. I usually wait for the commodity market to settled down for 2-3 hours, and then trade basis charts.

My trading idea is based on 20 EMA on 5 Minute chart. If the MA is sloping up and is in the green, it is an idea to go long. Similarly, if the MA is sloping down and in the red, it is an idea to go short. Flat MA is mostly avoid. Besides this, I look at swing points. I am posting a few charts. Trust this helps.....

Hi

DSM I think you should post daily analysis of Crude or other commodities here, It will help me and many other's. Would request you to post your analysis here more often.

Many Regards
Narangji

 

[Catch22]

Narangji, I don't have any idea at the start of the day of being bullish or bearish by any analysis. I usually wait for the commodity market to settled down for 2-3 hours, and then trade basis charts.

My trading idea is based on 20 EMA on 5 Minute chart. If the MA is sloping up and is in the green, it is an idea to go long. Similarly, if the MA is sloping down and in the red, it is an idea to go short. Flat MA is mostly avoid. Besides this, I look at swing points. I am posting a few charts. Trust this helps.....

Very helpful Charts .Gives a clearer picture .Thanks a lot :clap:.

 

[narangji]

Hi DSM

Time to post todays charts and your opnion, lets make this thread more lively

Regards

 

[narangji]

Canadian News paper FINANCIAL TIMES is predicting huge rallies in ZINC and NICKEL. They did not mention it which way though .

http://business.financialpost.com/2...allies-anticipated-in-zinc-and-nickel-prices/

Keep your charts ready...onya mark get set......

Newbs: Do not trade on such new's, prepare your 1 min candle stick chart's

 

[Catch22]

8:30pm ISM Non-Manufacturing PMI -
actual 56.9//previous-56.7 //Forecast-56.9

9:00pm Crude Oil Inventories

 

[narangji]

8:30pm ISM Non-Manufacturing PMI -
actual 56.9//previous-56.7 //Forecast-56.9

9:00pm Crude Oil Inventories

Hence no action in crude today. 2nd week in a row

 

[DSM]

The show starts at 9PM, when inventory data is released.

Hence no action in crude today. 2nd week in a row

 

[DSM]

Narangji, If crude/NG followed my opinion, I would surely post my views. Unfortunately, they do not, and I end up following up the 20EMA on 5Minute charts intraday and 4H charts for ideas on strength or lack there of in higher TF. Agree, with posting charts though.....

Hi DSM

Time to post todays charts and your opnion, lets make this thread more lively

Regards