…above. Today’s Top 3 Trades includes technical analysis on: Metals/Energy (Natural Gas | Silver) + Today’s Top Trade (GBPUSD) Join the world’s largest asset manager and 2 of the world’s 5 largest (and 5 of the 10 largest) hedge funds by AUM as daily readers of Tradable Patterns’ technical analysis. As seen on Bloomberg, Refinitiv, FACTSET and Interactive Brokers, readers regularly include global top 10 investment banks. If you represent an institu…
…of a few months back, and may form a tradable top for sometime this week. Natural Gas (CME NG Dec14) Weekly/Daily/4hr/Hourly NG started off flattish Friday, pushed higher, and then closed more or less where it had opened. In today’s Asian session though, NG opened with a gap up of over 4%, and will likely need to fill this gap before preparing for a more sustainable march higher. The daily and weekly RSI, Stochastics and MACD are all sloping high…
…to reclaim this support (now resistance). All eyes will be on Wednesday’s natural gas storage figures (which have been brought forward due to New Year’s on Thursday). Silver (CME SI Mar15) Weekly/Daily/4hr/Hourly SI gave back its Friday gains yesterday, again testing the upchannel support (in the daily chart) and needs to refuel before retesting the 16.2-16.3 zone of resistance (seen in the 4hr chart). On the weekly chart, SI appears in the middl…
Yesterday’s Natural Gas (CME NG Aug/Sep14) addition was a bit early, to provide enough time to prepare for a possible trade around the weekly storage figures. As mentioned, this was a high risk trade idea as the weekly chart suggests more downside. On the shorter term charts as seen below, after yesterday’s strong selloff, NG can be seen gearing up for a tradable bottom. ZC Weekly/Daily/4hr/Hourly/30min/5min ZW Weekly/Daily/4hr/Hourly/30min/5min…
…accumulating fresh longs on Corn (CME ZC Sep14), Wheat (CME ZW Sep14) and Natural Gas (CME NG Sep14) after having traded in and out of them last week. I’m still holding two lots of Cotton (ICE CT Dec14) long from last week, and will wait for its rally which I expect this week to coincide roughly with the bounce expected in ZC, ZW and NG. The oversold rally I’m looking to play on NG will be shortlived likely petering out just ahead of Thursday’s i…
…versold bounce either during the balance of this or next week. I closed my Natural Gas (CME NG Sep14) long yesterday at breakeven as Thursday’s inventory numbers approach. I’ll await further downside expected following this Thursday’s figures before re-entering the long perhaps next week. With the S&P500 (CME ES Sep14) becoming hesitant towards going lower, I decided to close my long at breakeven. I will attempt to re-enter the short higher closer…
…ve more upside in the next few days, especially given NQ’s break above 4k. Natural Gas (CME NG Sep14) has given back all of its August gains, and is now sitting at its July low. Based on how steeply negative the weekly MACD green line appears, the July low is unlikely to hold, and the next downside projection would be the November low. I will continue to sit out trading NG as better trade setups appear in the markets described above. The BUXL (Eur…
…rt. British Pound Philadelphia Index Weekly GBPUSD Weekly/Daily/4hr/Hourly Natural Gas (CME NG Dec14) Weekly/Daily/4hr/Hourly WTI Crude (CME CL Dec14) Weekly/Daily/4hr/Hourly VIX (CFE VX Nov14) Weekly/Daily/4hr/Hourly S&P500 (CME ES Dec14) Weekly/Daily/4hr/Hourly Nasdaq100 (CME NQ Dec14) Weekly/Daily/4hr/Hourly Japanese Yen Index Weekly USDJPY Weekly/Daily/4hr/Hourly USDX (ICE DX Dec14) Weekly/Daily/4hr/Hourly As usual, I try listing as many trada…
…ease Register/Login to view the complete edition of Today’s Top 10 Trades. Natural Gas (CME NG Feb15) Weekly/Daily/4hr/Hourly NG spiked over 11% yesterday, solidly putting in a bottom on the weekly and daily charts. On the weekly, NG has reclaimed downchannel support, and on the daily chart, NG is solidly above a downchannel resistance line. Weekly and daily RSI, Stochastics and MACD are all rallying, with the exception of the weekly MACD green li…
Please Register/Login to view the complete edition of Today’s Top 10 Trades. Japanese Yen Philadelphia Index Weekly The Yen index continues making a bottoming pattern on the weekly chart, with the Yen index exhibiting positive divergence on the RSI and MACD against price. The weekly RSI is rising towards 30, and the MACD appears poised for a positive crossover. The weekly Stochastics remains below 10 but is moderate in its negative slope. Let’s v…
