Commodities Market Trading Report - Technical Analysis is Elliott Wave and Trading Strategies.
Content: US Bond Yields, USD, DXY, US Gold XAU, GDX, Silver XAG, Gold Stocks, Iron Ore, Copper, Uranium, Crude Oil, Natural Gas.
Commodities Market Summary: Bonds down, dollar up, yields up, Gold and Silver down with copper. Uranium long term upwards trend. Crude Oil Wave 4 and Natural Gas could be setting up for long trade, but unconfirmed.
Video chapters
00:00 TLT Bonds. US Gov Bonds 10/5 Yr Yields.
01:24 US Dollar Index, DXY.
03:20 Precious Metals: Spot Gold / US Spot Silver / XGD.
12:00 Base Metals: XME ETF, Iron Ore, Copper. Uranium URA.
21:03 Energy: XLE ETF / Crude Oil / Natural Gas .
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EUR/USD is battling 1.0950, retreating from near three-month high of 1.0965 early Tuesday. The pair faces some selling pressure, as the US Dollar finds its feet amid a mixed market sentiment and ahead of a slew of Fedpseak. Speeches from ECB officials also remain in focus.
GBP/USD holds steady above 1.2600 ahead of Fedspeak
GBP/USD is holding steady above 1.2600, having retested the two-month high of 1.2644 set on Monday. The pair maintains its upward trajectory, as the USD licks its wounds amid sluggish US Treasury bond yields. All eyes remain on the Fedspeak for fresh trading impetus.
Gold price extends its consolidative price moves amid a modest USD recovery
Gold price struggles to build on the overnight breakout momentum through a key barrier. A positive risk tone caps gains amid a modest recovery in the US bond yields and the USD.
Bitcoin price sustains above $37,000, sees rising correlation with equities
Bitcoin price performance turned flat in the last two weeks as BTC entered a tight correlation with equities. BTC valuation model reveals Bitcoin price is unlikely to drop below $35,000 apart from short-term volatility.
End of the month, OPEC, PCE and Chair Powell
This week brings a close of trading for the month of November, a mix of GDP, CPI & more PMI data and the latest central bank announcement. The key data point could be the Fed's favoured measure of inflation on Thursday.