Elliott Wave specialist Tony Sycamore at TECHFX TRADERS says gold remains strong in the medium-term.
Commodities & Energy
Gold is ready to make a break for $2400, according to Ron William, director at RW Advisory.
A clear break for Gold above $1920 would open the way towards $2000 and even $2400/2500, according to Tony Sycamore, Director of Australia-based TECHFX TRADERS.
Commodities have established a base after successfully holding multi-year support, according to David Sneddon and his team at Credit Suisse in London.
“The ballooning Fed balance sheet is a party for gold,” says George Davis, Chief Technical Strategist at RBC Capital Markets.
While China and Japan remain the strongest equity markets based on their long-term trends, the overall message from Robin Griffiths and Ron William is “own gold, sell equities“.
A bearish sell signal has been confirmed for V20 Live Cattle, according to James Dima, technical analyst at Marex Spectron.
A bullish signal for the Z20/H21 calendar spread in Soybean Oil is pending, according to James Dima, technical analyst at Marex Spectron.
Oil’s V-shape recovery is looking fragile, according to Ron William, director at RW Advisory.
A large base has completed for iron ore, providing the platform for a more sustained bull trend, according to David Sneddon and this team and Credit Suisse in London.