2 May 2022

Investing in Commodities – #Oil, #Gold, #Copper, #NatGas May 2, 2022 (pubblicato alle ore 08:58)


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Investing in Commodities – #Oil, #Gold, #Copper, #NatGas May 2, 2022

Our section on the futures market of these 4 important commodities. Information, technical analysis and operations using our trading model on oil, gold, copper and gas and some weekly news collected around the web from authoritative sources, for those who want to deepen the topics and that we recommend to read.

Visit our TRAINING area to learn more about the indicators we use.

Flash of the Week:

The oil universe remains in constant turmoil with actions and counteractions from the many players that can affect its availability in the market, including Iranian oil. Promising long-term outlook for copper.

OIL

    • Iran is increasing its oil exports, benefiting from rising prices even as its main buyer, China, is reducing its purchases of Russian oil. Iranian oil exports rose to 870,000 barrels per day in the first three months of the year, up 30% from the 2021 average. China reduced its purchases of Russian oil by 14%. (wsj.com)
    • Russia relies on intermediaries like Swiss firm Trafigura to sell its crude, but the invasion of Ukraine has also tested Switzerland’s legendary tolerance for risk. In fact, Trafigura Group, is joining several competitors in cutting off Russian giant Rosneft Oil Co. from world markets by stopping exporting its crude. (wsj.com)
    • Texas-America’s most prolific oil field is experiencing significant difficulties in finding workers, money and equipment (steel, fracking pumps) to produce more oil. The region is the only place where U.S. crude oil production is expected to grow significantly this year, and the Biden administration hopes that production will help alleviate high gasoline prices. But growing supply chain difficulties are putting a cap on that goal. wsj.com

Long & Short – Technical analysis and trading signals on Oil

Prices are rising but Kumo is resisting. Flat trend in all indicators.

Oil – Future candlestick 1 day
  • Long (and/or close Short) on CL1! at the price of 104.11
    STOP LOSS / Reversal price: 99CURRENT SWINGS
    Swing high: 109.2
    Swing low: 95.28

Gold

    • (Reuters) – Gold prices fell on Thursday, staying close to the 10-week low touched earlier in the day, as a robust dollar staved off fears of shrinking U.S. economic growth in the first quarter. (investing.com)
    • Gold is up in Friday’s trading as US GDP data has pushed many investors towards this form of investment. However, gold is confirming its biggest decline since September 2021 on fears of an aggressive rate hike by the Federal Reserve. The dollar, which usually moves inversely to gold, remains near multi-year highs against its EUR and YEN rival currencies. (it.investing.com)

Long & Short – Technical analysis and trading signals on Gold

Gold – Candlestick 1 Day

Gold prices are on a downtrend and are headed towards the 200-period average at 1864 where they may find support.

MACD negative, also ADX negative but with downtrend strength decreasing. The system has entered SHORT on weekly candle as well.

  • Short (and/or close Long) on XAUUSD at the price of 1896
    STOP LOSS / Reversal price: 1916

CURRENT SWINGS
Swing high: 1998.46.
Swing low: 1915.08

Copper 

    • Glencore’s stock is up this Thursday, after the world’s largest mining giant provided forecasts of another year of significant profits, thanks to high prices of key commodities. In fact, the best performing stock among European mining groups. All this despite the company revising down production of zinc, cobalt and copper, the latter down 14% in the quarter, due to lockdowns and labor shortages. (it.investing.com)
    • The World Copper Conference, which took place in Santiago, Chile, offered a compelling program spanning current trends in the copper industry, from production to the dynamics of this market. Some insights: in 2021, the replacement rate for copper accounted for only 1.32% of global demand; demand for power cables will rise to more than 8.7 million tons by 2035, with the market growing at a compound annual rate of +4.5%. (copperalliance.org)
    • As the number of electric vehicles (EVs) increases, so will the demand for copper. In fact, EVs require more copper for motors and batteries, and autonomous vehicles require more copper for their radars, lidars and cameras. (copperalliance.org)

Long & Short – Technical analysis and trading signals on Copper

The descent of prices continues with decision. The support at 4.38 is also violated. All indicators are negative. Last valid support 4.28, then there is room to go down to 4.12.

Rame – Future Candlestick 1 Day
  • Short (and/or close Long) on HG1! at the price of 4.3
    STOP LOSS / Reversal price: 4.5CURRENT SWINGS
    Swing high: 4.84
    Swing low: 4.38

Long & Short – Technical analysis and trading signals on GAS

NATURAL GAS USA

Futures E-mini Gas Naturale – NYMEX – Candlestick 1 Day
  • Long (and/or close Short) on CL1! at the price of 7.47
    STOP LOSS / Reversal price: 6.88CURRENT SWINGS
    Swing high: 7.52
    Swing low: 6.47

Dutch TTF GAS Futures

Flat Indicators . MACD slightly negative. Prices are in sideways movement between the two SWINGS below.

Dutch TTF GAS Futures – Candlestick 1 Day
  • Long (and/or close Short) on CL1! at the price of 99.45
    STOP LOSS / Reversal price: 90.89CURRENT SWINGS
    Swing high: 127,5
    Swing low: 89,5

Visit our TRAINING area to learn more about the indicators we use.

This is just our trading and not an invitation to trade in the financial markets.


 

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