Wednesday, May 27, 2015

GOLD, COPPER, BRENT, WHEAT, SOYB, XEU, SPX and USB Daily Update (based on previous business day)

Weekly Time Frame Trading & Investing

GOLD @1.187,20. (GOLD Weekly Chart).
Weekly SMA-55 negative and Channel downslope.
CTP mode (S-P-R ratio not short supportive).
Last TTIP mode since 16-01-2015 as of 1.280,30 ended 03-02-2015 as of 1.260,60 with a loss of 1,54%.
Notes: Precious metals have made an important bottom. It seems GOLD though wants to spend more time in the cellar. Let's see if it will retest the recent low.

COPPER @ 2,78. (COPPER Weekly Chart).
Weekly SMA-55 negative and Channel downslope.
TTIP mode since 03-02-2015 as of 2,58.
Last TTIP mode since 14-01-2014 as of 2,53 ended 23-18-2015 as of 2,50 with a profit of 1,18%.
Notes: Economic commodities are weak. Copper will probably stay so for some time to come.

BRENT @ 63,94. (BRENT Weekly Chart).
Weekly SMA-55 negative and Channel upslope.
CTP mode.
Last TTIP mode since 03-11-2014 as of 84,78 ended 28-11-2014 as of 70,15 with a profit of 17,26%.
Notes: Economic commodities are weak. However Brent was extremely oversold. I think we have seen the lows for the foreseeable future. For the next couple of years I would expect Brent to gyrate between $50 and $100.

WHEAT @ 492,75. (WHEAT Weekly Chart).
Weekly SMA-55 negative and Channel upslope.
TTIP mode since 01-12-2014 as of 607,25.
Last TTIP mode since 17-10-2014 as of 517,50 ended 23-10-2014 as of 526 with a loss of 1,64%.
Notes: Wheat could have made an important low. Will we retest it at 466? We might, if this level breaks we are going to the very important 425 resistance level. I assume weakness will stop there.

SOYB @ 922,25. (SOYB Weekly Chart).
Weekly SMA-55 negative and Channel downslope.
CTP mode (S-P-R ratio not short supportive).
Last TTIP mode since 02-01-2015 as of 1.007 ended 20-01-2015 as of 981,75 with a profit of 2,51%.
Notes: Soybeans seems to have made an important low. Will we retest the recent low of 904? I don't think so. I'm looking for strength further down the road.

XEU @ 108,77. (XEU Weekly Chart).
Weekly SMA-55 negative and Channel upslope.
CTP mode.
Last TTIP mode since 26-09-2014 as of 126,93 ended 30-10-2014 as of 126,14 wit a profit of 0,62%.
Notes: Euro is weak and US Dollar is strong. Reversal signs are beginning to show.

SPX @ 2.104,20,. (SPX Weekly Chart).
Weekly SMA-55 positive and Channel upslope.
CTP mode (early termination).
Last TTIP mode since 25-11-2014 as of 2.067,03 ended 05-03-2015 as of 2.101,04 with a profit of 1,65%.
Notes: I expect bullishness for the SPX until the end of 2015, and maybe even until the summer of 2016. Correction and consolidation might hit us during the May-August 2015 period.

USB @ 154,91. (USB Weekly Chart).
Weekly SMA-55 positive and Channel neutral.
CTP mode.
Last TTIP mode since 07-08-2014 as of 138,40 ended 12-09-2014 as of 136,23 with a loss of 1,57%.
Notes: Bond prices are rising parabolically. I'm expecting a fall in prices and a rise in rates shortly. Reversal signs are beginning to show.

Choose your own Targets and Stoplosses by looking at the Resistance and Support levels (purple dotted lines) in the embedded charts.

I only trade and invest based on the Trend Trade & Investment Principle. My views on the future as expressed in the notes are not taken into consideration.

For an explanation of the abbreviations and the Trend Trade & Investment Principle see the bottom of this blog. Please also read the disclaimer there.