Trading Stops to Watch in Commodities Markets this Week

TL;DR

The speaker discusses trading opportunities in crude oil and gold, predicting a major top in crude oil and a potential decline in gold.

Transcript

I traded stale Pinkard here you could find me on Twitter Forex top hunter I'm lost with the host and moderator on face Forex analytics community experience and mentor people in the eagle's nest so I must start off with for our chart so I'll be giving to look at three instruments today earlier in the week I said I didn't believe the crew to top beca... Read More

Key Insights

• 💁 The speaker believes a major top is forming in crude oil and plans to get short between 65 and 66, expecting a significant break.
• 🙈 The breakdown in gold below the twelve eighty level is seen as important, and any rally towards 12.88 is viewed as a shorting opportunity with a target of at least 1250 or possibly 1220.
• 🏅 Trading gold through a bearish ETF on gold shares, such as DUST, may provide potential returns of 20-30% back to the gap at 24.50.
• 🎮 The speaker emphasizes the importance of risk management and controlling the amount one is willing to be wrong in trading.
• 👀 There is a possibility of dollar weakness ahead, with a potential pullback to 96 in the Dixie and still looking for 114 in the euro.
• 🏅 The speaker advises traders to consider the leverage of futures contracts or CFDs when trading gold.
• 💐 A longer-term chart suggests a potential target of 28 on the bearish ETF on gold shares, DUST.

Questions & Answers

Q: What is the speaker's prediction for crude oil?

The speaker believes that crude oil is setting up for a major top and plans to initiate short positions between 65 and 66. They expect a significant break and anticipate a target below the red line at 60 to 50.

Q: What does the speaker suggest regarding gold trading opportunities?

The speaker sees the breakdown below the twelve eighty level in gold as significant. They view any rally towards 12.88 as a shorting opportunity, with a target of at least 1250 or possibly 1220.

Q: Are there alternative ways to trade bearishly on gold?

Yes, the speaker suggests considering a bearish ETF on gold shares called DUST. It is threatening to break out over the 19.50 level and may provide potential returns of around 20-30% back to the gap at 24.50.

Q: When does the speaker plan to wrap up the week's trading analysis?

The speaker intends to be back the next day to wrap up the week's trading analysis, as the US will be closed on Friday and Europe closed on Monday.

Summary & Key Takeaways

• The speaker believes that crude oil is setting up for a major top and plans to initiate short positions between 65 and 66, with a target below the red line at 60 to 50.

• In regards to gold, the speaker sees the breakdown below the twelve eighty level as significant and anticipates further weakness. They view any rally towards 12.88 as a shorting opportunity, with a target of at least 1250 or possibly 1220.

• The speaker also suggests considering a bearish ETF on gold shares, as it may provide potential returns of around 20-30% back to the gap at 24.50.