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Daily Commodities Trading Signals & Market Insights: February 28

- Gold prices remain static within $2,000 to $2,050 amid rate hike concerns.

- Federal Reserve's stance on maintaining higher interest rates limits gold's gains.

- Dollar strength continues to pressure gold; spot gold stable at $2,030.69.

- PCE inflation and GDP data eyed for further market direction.

- Industrial metals see fluctuation; copper futures dip ahead of China PMI data.

- Oil prices retract with U.S. rate cut expectations delayed and crude stock rise.

- Brent crude adjusts to $83.35, WTI to $78.59 as market absorbs API data.

- OPEC+ may extend output cuts, influencing oil market dynamics.



Commodities Trading Signals

  XAU/USD (Gold)   XAG/USD (Silver)  WTI (CL-Oil)  BRENT CRUDE (OKOUSD)  COPPER (Cr)


XAU/USD Gold, A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 XAU/USD Gold

Asset and Direction

  • Asset Name: Gold (XAU/USD)

  • Trading Direction: Buy (potential for upside if resistance breaks)

  • Proposal Strength: Moderate (awaiting confirmation from US data)

Snapshot

  • Pivot Point: $2,032.84

  • Previous Close: $2,030.05

  • High/Low: $2,039.29/$2,029.2

  • Market Trend: Range-bound

  • Confidence Level: Medium (pivot point holding as a key level)

Key Indicators

  • Volatility (ATR): Moderate at 5.23, indicating potential for sizable moves

  • Ichimoku Cloud: Price is near the cloud, suggesting a neutral to bullish bias

  • RSI: Neutral at 48.58, showing no clear overbought or oversold conditions

  • Bollinger Bands: Price is oscillating around the middle band, indicating a lack of strong directional bias

  • MACD: Close to zero but with a slight bullish crossover, suggesting potential for upward movement

Yesterday's Recap

  • Opening Price: $2,031.12

  • Overall Trend: The price showed limited movement, staying within a close range of the opening price

Market Watch

  • Traders are focusing on PCE inflation data and GDP figures for further cues

  • US economic strength could lead to higher interest rates, influencing gold prices

Trade Insight with Entry Price

  • Strategy: Buy if the price breaks above the pivot, with increased momentum supported by US data indicating higher inflation or strong GDP growth.

  • Entry Price: If a breakout above $2,032.84 is confirmed

  • Take Profit Levels: TP1: $2,035, TP2: $2,040, TP3: $2,045

  • Stop Loss: Below the recent low around $2,028

  • Key Trading Tip: Monitor the economic releases closely, as they can have a significant impact on gold prices. Adjust stop-loss and take-profit levels accordingly to manage risk.



An advertisement graphic for Vantage, a trading platform, offering a 50% deposit bonus to supersize trades. The visual features an isometric design with an oversized, three-dimensional arrow pointing upwards, indicating growth or increase. There are stacks of coins on the arrow, and a miniature office setup with a computer displaying charts, suggesting trading activity. A "claim now" button is included, highlighting the promotional offer. Trading risks and terms and conditions are noted at the bottom, alongside the VFSC registration number.

XAU/USD Silver, A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 XAG/USD (Silver) 

Asset and Direction

  • Asset Name: Silver (XAG/USD)

  • Trading Direction: Sell (after a recent drop, further downside could follow)

  • Proposal Strength: Moderate (considering the current bearish price action and overall market sentiment)

Snapshot

  • Pivot Point: $22.38

  • Previous Close: $22.4381

  • High/Low: $22.7108/$22.4363

  • Market Trend: Downward

  • Confidence Level: Medium (due to the recent price action)

Key Indicators

  • Volatility (ATR): Moderate, indicating the possibility of further movement

  • Ichimoku Cloud: Price below the cloud would indicate bearish sentiment

  • RSI: Watching for oversold conditions as RSI approaches 30

  • Bollinger Bands: Price breaking below the lower band could signal a continuation of the downtrend

  • MACD: Bearish crossover could support the sell signal

Yesterday's Recap

  • Opening Price: $22.497

  • Overall Trend: The price has seen a bearish move, indicating a shift in momentum

Market Watch

  • The market is currently sensitive to USD movements and economic data releases

Trade Insight with Entry Price

  • Strategy: Sell on a retest of the hourly pivot point if the bearish trend continues, potentially after a small pullback

  • Entry Price: Around the hourly pivot at $22.38 if the market retests this level

  • Take Profit Levels: TP1: $22.30, TP2: $22.20, TP3: $22.10

  • Stop Loss: Slightly above the most recent swing high, around $22.48

  • Key Trading Tip: Given the current market volatility, keep an eye on economic news releases that could impact the USD and, consequently, Silver prices. Adjust positions and orders as necessary in response to new market information.


WTI Crude Oil, A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 WTI Crude Oil (CL-Oil))

Asset and Direction

  • Asset Name: WTI Crude Oil

  • Trading Direction: Sell (due to the bearish momentum and recent price drop)

  • Proposal Strength: Moderate (considering the recent price action)

Snapshot

  • Pivot Point: $78.35

  • Previous Close (Settlement): $78.87

  • High/Low: $79.00/$77.17

  • Market Trend: Bearish trend with a recent price drop

  • Confidence Level: Medium (based on recent bearish price action)

Key Indicators

  • Volatility (ATR): Assess upon loading; higher ATR might indicate stronger bearish momentum.

  • Ichimoku Cloud: If price is below the cloud, it reinforces the bearish sentiment.

  • RSI: Hovering around the mid-level; watch for movement towards oversold for confirmation of strength in the bearish trend.

  • Bollinger Bands: Price near the lower band could indicate continued bearish momentum.

  • MACD: If the MACD line is below the signal line and moving downwards, it confirms bearish momentum.

Yesterday's Recap

  • Opening Price: $77.62

  • Overall Trend: Price moved upwards but faced rejection, suggesting bearish control.

Market Watch

  • Be vigilant of OPEC+ decisions and inventory reports that could swing prices.

Trade Insight with Entry Price

  • Strategy: Sell on any pullbacks to the pivot point if the bearish trend persists.

  • Entry Price: Near the pivot at $78.35

  • Take Profit Levels: TP1: $78.00, TP2: $77.50, TP3: $77.00

  • Stop Loss: Above the recent high, at around $78.75

  • Key Trading Tip: Watch for any sudden news that might affect the oil market, and be prepared to adjust the strategy accordingly. Use tight stop losses to manage risk in a volatile environment.


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BRENT CRUDE (OKOUSD)  A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢BRENT CRUDE (UKOUSD)  

Asset and Direction

  • Asset Name: Brent Crude Oil (UKOUSD)

  • Trading Direction: Sell

  • Proposal Strength: Moderate based on ATR and MACD indicators

Snapshot

  • Pivot Point: $82.22

  • Previous Close: $81.25

  • High/Low: $82.66/$81.77

  • Market Trend: Short-term bearish trend within a range

  • Confidence Level: Medium

Key Indicators

  • Volatility (ATR): Moderate with ATR at $0.514, suggesting decent price movements

  • MACD: Bearish as the MACD line is below the signal line

  • RSI: Neutral territory, around 49.36, indicating potential for movement in either direction

Yesterday's Recap

  • Opening Price: $82.66

  • Overall Trend: Prices were trading within a tight range, slightly bearish sentiment

Market Watch

  • Events: Traders are eyeing inventory and production data releases for further cues

Trade Insight with Entry Price

  • Strategy: Consider a short position if prices move up to test the pivot point but show signs of rejection, confirming bearish continuation

  • Entry Price: Around the pivot at $82.20

  • Take Profit Levels: TP1: $81.50, TP2: $81.00, TP3: $80.50

  • Stop Loss: Set above the recent peak, around $83.00

  • Key Trading Tip: Monitor the market for oil inventory reports and be ready to adjust positions accordingly. Tighten stop-loss orders in response to unexpected bullish signals.


Copper  A trading chart displaying the asset with two main indicators. The top panel shows Bollinger Bands overlaid on candlestick price action with a 20-day Simple Moving Average (SMA). Below, two sub-panels present the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), respectively. The RSI is within the neutral range, neither overbought nor oversold. The MACD shows the signal line and the MACD line close together, indicating no strong momentum in either direction. The lower section of the image features a separate price action chart without indicators for comparison.
🟢 Copper

Asset and Direction

  • Asset Name: Copper

  • Trading Direction: Sell (short-term)

  • Proposal Strength: Moderate

Snapshot

  • Pivot Point: $3.8500

  • Previous Close: $3.8505

  • High/Low: $3.8655/$3.834

  • Market Trend: Short-term downtrend

  • Confidence Level: Moderate, waiting for confirmation

Key Indicators

  • Volatility (ATR): Mildly increasing

  • Ichimoku Cloud: Price below the cloud, indicating bearish sentiment

  • RSI: Below 50, suggesting bearish momentum

  • MACD: Bearish crossover

Trade Insight with Entry Price

  • Strategy: Given the current bearish indicators, consider a short position on a break below the pivot point with tight risk management.

  • Entry Price: Just below the pivot at around $3.8450

  • Take Profit Levels: TP1: $3.82, TP2: $3.80, TP3: $3.78

  • Stop Loss: Just above the pivot at around $3.8550

  • Key Trading Tip: Keep an eye on the volume as an increase could validate the bearish momentum. Consider a tight stop loss due to the proximity of the price to the pivot point and the potential for rapid changes in direction.

 

Disclaimer: These Commodities Trading Signals are based on the current charts and market conditions. Always conduct your own analysis and consider risk management strategies before entering any trade. Markets are dynamic, and conditions can change rapidly.


As with all investments, your capital is at risk. Investments can fall and rise and you may get back less than you invested.

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