Gee Gee trade on commodities

[GeeGee]

GM everybody.
Was busy for two days so no update.
Commodities are almost where we left on friday closing, except some movement on crude and a very good recovery on NG. Gold and Silver shown some good moves on monday to upside but faded and are still in indecision, however i still prefer upside.

Crude is precariously close to previous closing top and inventory data ahead. However momentum seems to be in bull favour. Has crossed and closed above rendline and as usual a kissback to the breakout point may be imminent and can be utilised.

Gold showing some good consolidation and a sustenance on the channel support. Some good price action on monday a fadeout and a steady climb on tuesday. Looking good as of now.

Silver showing same traction as gold and with dollar taking a beating and euro advancing, the bulls may be favoured. Still settling on lower channel support.

NG snaps back in the channel yesterday after seeing cuts in aftermath of inventory data. The same is coming up again. Barring that price action is showing good traction however a break above the channel resistance on closing basis would validate the move further.

 

[rourkem]

Any recent/updated charts so far for this month please?

 

[GeeGee]

Sorry guys. Have been preoccupied with some other things so no trade for about 40 days or so. But now i am back in business.

Euro putting up a good fight and seems like well supported on horizontal support. A close above falling trendline on weekly will clear it a lot more to upside.

Pound seems to be in a better position to counter dollar as compared to Ruro and MA are turning up again from a good support. Seems like a better candidate for possible upside breakout.

Gold have cracked the long time support point and is trending downward. Just a channel support at yesterdays trading zone so its a wait n watch. Silver showing better resilience may show spill over action here as well so just watching.

NG is my current favourite. Its showing a lot of consolidation with upward bias. Just a little resistance between downward trendline and another horizontal. Today being the inventory data, lets see how it shapes up.

Three days resilience, yesterdays price action seems to open up a contra trade here.

 

[GeeGee]

For today:

Euro on expected lines. However a firm close above horizontal support wd further strenthen the upside case.

Pound, quite confusing. Todays price action would clarify things. Whether we resume the original trend or are stuck in a countertrend.

Gold exhibiting a confirmed and resumed downtrend. Previous low was 1045 long back. Lets see

After a spike to expected levels, it clsoed with a bad bad candle. If we can reverse it in todays price action then good to go. Else sideways to down.

Silver too seeing fresh crackdown and quite vulnerable now.