Forex & commodities on March 23, 2018: outlook


Here are my discretionary thoughts on forex and commodities. I only trade the stock market.
Go to the homepage for my latest thoughts on forex and commodities.

Thoughts

  1. The smart money is still very bullish on the U.S. Dollar. They’re waiting for a big USD rally.
  2. “Smart money” commercial hedgers are still slightly bearish on gold, bullish on silver, and very bearish on oil.

3 am: the smart money is still very bullish on the U.S. Dollar. They’re waiting for a big USD rally.
Commercial hedgers are still extremely long the U.S. Dollar. Here’s their position according to the latest COT Report.

Conversely, commercial hedgers are still very bearish on the Euro.

Commercial hedgers are becoming less and less bullish on the Yen. They are now almost completely neutral.

Commercial hedgers are becoming more and more neutral on the Canadian Dollar.

Commercial hedgers are still bearish on the British Pound (bearish on GBPUSD).

3 am: “smart money” commercial hedgers are still slightly bearish on gold, bullish on silver, and very bearish on oil.
The smart money commercial hedgers are still slightly bearish on gold.

The smart money is still bullish on silver.

The smart money is still extremely bearish on oil.

Read Forex & commodities on March 22, 2018: outlook

Bottom line

I only trade stocks. These are just my thoughts/outlook on other markets.

  1. Gold and silver are in bull markets.
  2. I’ve decided to buy some gold and silver as long term investments.
  3. The U.S. Dollar is in a bear market.

2 comments add yours

  1. Troy,
    Charts looking good for some commodities. Testing the water with small positions in Soybeans, Gold, and the Gangster “Oil”.

    • The long term charts are looking good. I’m not so sure about the short term charts. But then again, my silver position is a long term play, so I’m not too worried. And my silver position is rather small (10% of overall portfolio).

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