This is the first video i ever uploaded after performing some editing. It was to cut one or two sentences short, and maybe you can tell where its done. Its a sign of things to come. Ill try and upgrade the visuals to my videos now. Maybe you noticed the charts use different colours for the candles and wicks. That was so it was easier on the eye overall, espcially for those of you using small mobile screens and where the background dark colours make it harder to see dark candles. Anyway, I’m going to start chopping it up and maybe soon adding special effects just to keep it as short as possible, and as entertaining as possible, without sacrificing the content or visuals. Thats how i would want it. I also intend to develop 1 or 2 more thumbnails to ensure they always fit the exact content im uploading. If you have any ideas/comments on any of this, please let me know.!
In this video though, i do not cover gold, silver or the miners. I intend to do a special christmas video just for those topics tomorrow.
#nasdaq #gold #silver #silversqueeze #gdx #dxy #dxyforecast #bonds #eurusd #yields #xauusd #xagusd #newmont #barrickgold #copper #preciousmetals #bonds #treasuries #stockmarket #trading #trader #gdxj #goldminingstocks #goldmining #preciousmetalsprices #uraniumstocks #uranium #juniormining #miningstocks #goldprice #silverstocks #xauusd #usdjpy #recession #hyperinflation #commodities #peterschiff #investment #platinum #palladiummall
So quick recap on Commodities starting off with the dxy not sure whether it was bullish bearish or neutral this candle we had a close at low of day on Thursday looked pretty ugly looked like continuation was inevitable which was the case on Friday but this bounced back from the
Lows I’m not sure if it closed within the trend line or not really it’s give or take I think we just need one more day you know if we start to close below Friday’s close that would indicate for me that it’s bearish you know we’re going to actually go lower all the way
Down to 101 or 100.8 but if we just rally just even a little bit that would kind of confirm that they’ll have a small reversal and it might bounce a little bit so for me dxy is slightly bearish but not that bearish at all that makes sense and also
If we look at currencies by the way real quickly Euro US dollar suggest to me that it’s ready to go up but Friday wasn’t the day because look at the candles before before that you know we’ve come all the way back down that’s a cup this is a handle and then this is
A handle which is just led to a dud breakout so I just it I I still think this is slightly bullish just which coincides with this being slightly bearish the dxy the overall waiting likewise US dollar Japanese Yen this is this is actually a bit more
Neutral you know I’m not going to say this is bearish I mean it’s certainly not strong but you know it’s a decent candle I mean this gives the excuse for a potential you know another candle going up a little bit so this is neutral but overall you know neutral US dollar
Japanese Yen Euro US dollar this is bullish which means bearish the the dxy so overall ever so slightly bearish that’s my take on the dxy let’s look at Copper this is you know like climbing a wall of worry this is slightly bullish copper which was just drifting sideways
For for very very long it was pretty weak and then you know it started to indicate maybe it’s got bit more upside and obviously the markets went up a lot that helped copper the dollar went down a lot that helps copper so Copper’s had
A lot of help and here you can see we’re stuck at the sort of upper end of the channel the channel being basically 3.93 and then 3.73 so like a 20 C uh channel here and you could say the middle point is a bit of support resistance actually funny enough
And here we are pretty much just under the absolute highs now do we go higher yes we can especially the dxy goes lower and the markets I don’t see the markets really having much further upside because they’ve just done so much in such little time but if copper was to close above
3.9 let’s say five I think it would just go straight to to 40 403 402 uh at least test four probably close above four that same day so yeah we got this little bit of a move higher here that could take place but we need just a
Better close it’s just we’re running out of uh ways for the copper to close higher because like I said the dollar could bounce and the markets could definitely drop so you’d really need just a few more days of what’s been working recently the dollar crashing uh which definitely could happen and the
Market’s going higher which is hard to see so copper is pretty much near resistance and I think you know all things can we may have a move back down to the midpoint at least pretty soon okay natural gas this one looks good look at the weekly chart by the way you
Know this one I thought would bounce a lot uh sooner than it has and it hasn’t really bounced yet but look at that come all the way back down pretty much to the lows 2. tws and we got two weekly candles here on the lows uh a better close on this
Weekly candle let’s at the the daily look at that did we close outside of the Breakout maybe but I think we’re going up anyway so where do we go well I think we can go pretty much at 2.75 you know very ever so slightly slightly support and resistance here so mini level at
2.75 and then I think $3 is a psychological and a technical resistance that’s dated back for some time so and 2.75 is pretty much the midpoint because we’re at 2.5 so I think these are pretty simple bit like copper actually you know you got to in this case a Channel of 50
Cents and then here the midpoint is 25 cents whereas copper was really uh 20 cents wasn’t it it was 3.73 and 3.93 so very similar just uh the weekly chart is not good for for copper okay oil this one also has declined more than I expected now all the way down here this
For sure was always going to be strong support uh but then again I thought the same a bit higher but here we are we’re sort of grinding a bit sideways after reclaiming the 70s what do I think will happen depends on the markets also you know oil going
Down suggests demand is dropping you know that’s indicative of a weaker economy in the future especially we have geopolitics though uh the dollar could have an impact a lot of moving parts to this one so I like to stick with technicals I think we’ve we
Have reclaimed so far a bit of a level which is is I don’t know can I say 72.5 is so this should act as support since we’re trading above it if we start to close above below let’s say 72 especially we could make go
All the way back down to sort of 69 who knows maybe maybe below 68 even just the the old lows down here otherwise if we start to move higher if we start to close above 75 then we could should go all the way up to 78 with s with 80 being resistance
Psychologically technically for two reasons the horizontal and a descending so yeah just to reiterate the point I’d expect this area to be mini support if it goes lower than this level and then if we start to close above 75 75 being a bit of resistance I’d expect 78 and who
Knows maybe even 80 those levels I see on the more zoomed in chart let’s look at the weekly yeah okay it makes more sense on The Daily But ultimately I do expect oil to go all the way back up to 90 by the way so I mean obviously we’ll have some
Stops on the way some retracements but since as we can close Above This descending we should really move all the way back up to yeah 90 really 90 uranium it’s just grinding sideways up all way as soon as it starts to look a little bit weak oh and we start to look
At maybe the first ascending support coming into play it just reverses and has a beautiful Perfect Day the next day and here we are you know testing above 30 or you know 2 days later so uranium for me just remains sideways grind higher higher lows higher highs climbing
A wall of worry next stop still haven’t done yet 31.5 I expect to be tested and once that’s tested and closes above it look you got to keep in mind the bigger picture the bigger picture being this is going up by quite a bit wow that really is quite impressive if
You know the macro well I think I know the macro thesis behind uranium is just the only energy source that can really provide what all these uh what all these countries are looking for this green energy sustainable etc etc this is really you know nuclear power is the only thing
That can do unless you want to go back to co and and all the supposedly dirty resources so this has a great future ahead of it Platinum which is been compared to some of them pretty stable look at this beautiful support here at let’s call it
840 you know I think we’re way we’ve touched the low for the definitely for the year but you know for the last couple of six I mean I don’t see us visiting the 840 region in a long time next stop I would expect the retest of this descending actually I think we can
Go test 1,000 at least and maybe even get to 1,50 at which point expect a bit of a retracement but who knows the next time it tests it you know we could close above it and look for a major move back up so Platinum looks good Palladium that had a massive breakout I
Watched that as soon as I well I think I bought sbsw uh the stock that really follows Plum quite well I been watching that last couple of weeks so the breakout is real I you know we could retest I don’t see it happening but if we did I’d
Expect the the this descending to act support next upop really resistance 1,300 after that uh after that it’s probably going to retest this major support Zone which is hard to call it maybe 1,500 between 1,500 1,600 I would say uh so support is the old lows but
More importantly the the back test of this descending and the resistance I would say 1,300 which we could reach any moment and after that 1,000 I would say 500 to 600