Page 7 - Soft Commodities News Today : Breaking News, Live Updates & Top Stories | Vimarsana

On April 16 th GMTT reported that Bitcoin was trading in a tight range, and that Bitcoin elects a sell signal below BTC/USD 60400. When the sell signal was elected we gave different lower targets and the last one was given last Wednesday, which was a downside target of 47688. That target was reached this morning, just in a couple of days Bitcoin lost over 20% off its value in just a few trading days! The short term range for Bitcoin is wide: 43604 – 52175. Traders that are short the Bitcoin should use our suggested buy stop at 52900.     Global Indices, VIX, a selection of stocks, Treasu...

Prices for commodities including wheat, corn, soyabeans and vegetable oils have all been rallying sharply since mid-2020 Wheat gains on concerns over dry weather in northern hemisphere. Looking at the overall technical model we see a topping process. The next upside target for Wheat is 710. However, since there is a projected high we are now looking for a good entry level to go short. Its either once Wheat gets close to 710 – with a tight buy stop, or when Wheat elects a technical sell signal which is below 642.   Here too we are looking at a projected high in the Soybeans. The strategy is...

Tuesday’s Session was Cycle Day 2 (CD2): Price violated CD1 Low (4141.75) with a continuation trend lower during RTH fulfilling 4115, “down-range” objective. Range was 56.75 handles on 1.661M contracts exchanged.  … This leads us into Cycle Day 3 (CD3): Price is currently well below CD1 Low (4141.75) and typically has strong odds of recovering this level during Cycle Day 3 trading. Failure to recover would be marked as a “Statistical Cycle Failure” which only occurs 9% of the time tracked over twelve years of data. As such estimated scenarios to consider for today’s trading. 1...

Chart of the Day Copper (MAY) Last week, copper looked like it was breaking out a wedge consolidation but China clamping down erased the break. Now it has taken a second run and broken the mid-March high. At GMTT we went long Copper last Wednesday at 4.04 and our target of 4.23 is reached. Very short term we get the next target of 4.29, while a good close above confirms a move towards 4.46. We suggest raising the protective sell stop to 4.21. On another note Gold (JUN) – long from 1726 – reached our given target of 1789 and its next upside target is 1806. We raised this morning the protec...

  Last week, copper looked like it was breaking out a wedge consolidation but China clamping down erased the break. Now it has taken a second run and broken the mid-March high. At GMTT we went long Copper last Wednesday at 4.04 and our target of 4.23 is reached. Very short term we get a next target of 4.29, while a good close above confirms a move towards 4.46. We suggest raising the protective sell stop to 4.21.   On another note Gold (JUN) – long from 1726 – reached our target given of 1789 and its next upside target is 1806. We raised this morning the protective sell stop to 1774 �...