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Commodities Market Trading Report - Technical Analysis Elliott Wave, Trading Levels and Trading Strategies

Content: Bitcoin, US Bond Yields, USD, DXY, US Gold XAU, GDX, Silver XAG, Gold Stocks, Iron Ore, Copper, Uranium, Crude Oil, Natural Gas.

Commodities Market Summary: Bitcoin's current move down appears impulsive, so we can expect a corrective rally and then another leg lower into 39 - 38K at a rough guess. This three-wave move down can be an ABC corrective pattern, however, I cannot confirm this and any move below this three-wave ABC pattern would be a larger bearish pattern, I understand this does not fit the Bitcoin narrative.

Forex: The USD DXY is starting its rally higher as Wave c) of 2 and once this is completed it opens a door for longer-term long trades in other currency pairs which I will place in the CommodityCheck portfolio as Trades. The Wave 2 in the DXY also supports long trade in Spot Gold and Gold stocks. This will also be a major focus point for Trades.

Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817
Source: tradinglounge.com

Video Length: 00:50:12

Video Chapters:
00:00 Bitcoin (BTC)
16:10 US Dollar Index, DXY
22:18 TLT Bonds. US Gov Bonds 10 Yr Yields
24:32 Precious Metals: Spot Gold XAU /GDX ETF / US Spot Silver XAG 
33:30 Base Metals: Iron Ore, Copper XCU/USD. Uranium URA ETF
42:32 Energy: Crude Oil WTIOIL / Natural Gas NG
49:52 End

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