Forex & commodities on March 29, 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 U.S. Dollar is still stuck at its 50 day moving average resistance.
  2. Oil is stuck at resistance. Bulls need to wait for a breakout.
  3. Gold and silver are stuck in a narrow range. Neither bulls nor bears have an edge here.

1 am: The U.S. Dollar is still stuck at its 50 day moving average resistance.
The USD Index has been swinging sideways for 2 months in a narrower and narrower range. The U.S. Dollar still cannot decisively break above its 50 day moving average resistance.
Neither bulls nor bears have an advantage here. Wait for a breakout or a breakdown.

1 am: Oil is stuck at resistance. Bulls need to wait for a breakout.
Oil has been unable to break its previous high resistance. Bullish traders need to wait for oil to break above this resistance before going long.

1 am: Gold and silver are trading near the bottom of a very tiny range.
Silver is at support, and gold has fallen from resistance.
Neither bulls nor bears have an edge here. Precious metals are stuck in a narrow range. Wait for a breakout or breakdown.


Read Forex & commodities on March 28, 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.

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