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Copper Market Frenzy Causing a Short Squeeze Among Traders
In recent weeks, the copper market has experienced unprecedented activity, with copper futures in New York rallying to record highs. This surge, driven by a short squeeze, has caused a stir in commodities trading, prompting traders to divert metal to U.S. shores. A short squeeze happens when traders who have bet against a particular asset […]Read More
Commodities Update After April Inflation Data
USOIL has has shown a lot of weakness since peaking on April 1. This week USOIL has lost support at the lower end of the light blue channel. There should be concerns for continued decline to low $70 price levels. GOLD Finds Support at the Green Zone GOLD has rebounded off the green zone, and […]Read More
How Keep Your Money and Combat Inflation
Rising prices due to inflation can put a strain on your budget and savings. When the cost of goods and services increases, your money doesn’t stretch as far. This erosion of purchasing power makes it harder to maintain your standard of living. However, by understanding how inflation works and taking proactive steps, you can mitigate […]Read More
GOLD Trying to Find Support in the Green Zone
GOLD had a strong selloff around April 11, and has been slightly bearish and neutral over the past few weeks. GOLD is trying to find support within the green zone between $2,277.73 and $2,295.02. If this support zone holds GOLD can trend up towards the red trendline around $2,567.50. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreSLV Struggling to Rebound After Rejection at $27.31
SLV had a strong rejection at the first price target, the green trendline at $27.31. SLV had numerous failed attempts to rebound, and continues to trade lower. The red trendline is a key price target of interest around $23.31. The red trendline has been a long-term resistance level dating back to March of 2011. SLV […]Read More
USOIL Selloff Above the Light Blue Channel
There was an attempted bullish breakout above the light blue channel, but this breakout failed and reentered the channel. The price is now approaching the lows of the channel near support around $76-77. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreUSO Approaching Resistance
$USO has rallied over the past few weeks, but has run into resistance at $83.19. I also have a higher resistance level at $92.53 if USO continues its bullish momentum into resistance. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreSLV Key Price Levels to Monitor
$SLV formed a bullish breakout above the white resistance line. SLV rallied to $27.32 before a selloff. I think SLV could rebound and continue trending up. $27.32 will be another resistance target to monitor before SLV can reach $33.78 and $46.95 price levels. ChartChamp socials: https://linktr.ee/realchartchamp
Read MoreGold Trading Within a Range
$XAU lost support at the white trendline, and has been trading within a range with support at $2,303 and resistance at $2,400. I think gold continues to climb up towards $3k price levels over the next few months. ChartChamp socials: https://linktr.ee/realchartchamp
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Approaching the Gates of Hell: Recent VIX Spike Signals Extreme Market Turbulence and Potential Crisis
The VIX chart depicts a significant recent spike in volatility, breaching through multiple resistance lines. This surge can be described as approaching the “Gates of Hell,” indicating heightened fear and uncertainty in the market. The breakout from the descending channel suggests that the market is entering a phase of extreme turbulence. Traders should be prepared […]Read More
Bitcoin Update: Bull Flag Formation and Key Buy Opportunity at $55,400
Here’s a quick update on Bitcoin. We’re currently still within the bull flag formation that’s been developing since March. Bitcoin is trading around the 200-day moving average, a significant demand zone. Historically, when Bitcoin retraces to the 200-day moving average, it tends to hold and bottom out, even if the price dips slightly below this […]Read More