Commodities Bear Rally

commodities bear market

  • Talks of additional stimulus from Central Banks allowed the bullish momentum in severally short commodities sector to continue
  • Strong rally was a result of short covering with the addition of bargain hunters piling in
  • Value investors look to safe haven assets to diversify their portfolio in times of uncertainty
  • Global Equity market remain in jittery – another sell off could undermine any sign of economic recovery
  • Market sentiment remains gloomy and dark clouds that beset Q1 of 2016 has not been lifted
  • Precious Metals sending a strong message as it stands strong amidst recovery in risk-on assets

READERS PLEASE TAKE A LOOK AT LAST WEEK REPORT ON “BUY” and “SELL” ZONE THAT WAS MARKED IN THIS REPORT – https://globalbulliontimes.com/2016/02/25/trade-what-you-see/

Currencies

Dollar Index

Weekly

  • a very bearish engulfing weekly candle
  • next support at the lower Bollinger band

USD/JPY

Weekly

EUR/USD

Weekly

GBP/USD

Weekly

NZD/USD

Daily

Indices 

FTSE

Weekly

CAC40

Weekly

STOXX

Weekly

SPX

Daily

VIX

Weekly

Commodities 

 

Oil

Monthly

  • Last month candle offer the platform for a potential reversal

Copper

Weekly

  • Completed the Inverse Head and Shoulder move

Platinum

Daily

  • RSI remains bullish but diverging on the daily – weekly chart soon hit overbought territory
  • Approaching potential sell zone as risk reward has tilted in favour of a pullback

 

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