I last wrote about Commodities and the AUD/USD Forex pair on January 20th.
Since then, the Commodities ETF (DBC) broke above trendline resistance, and is attempting to bounce after a re-test of near-term support, as shown on the Weekly chart below. Near-term resistance is the upper Weekly Bollinger Band at 28.70. A break and hold above that level could signal a new rally in store for Commodities, in general.
Additionally, the AUD/USD Forex pair is bouncing off its lower Weekly Bollinger Band and a major support level. A hold above the 50 sma (red) could send it up to its mid or upper Bollinger Band.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
* If the dots don't connect, gather more dots until they do...or, just follow the $$$...
Vintage Xmas Shopping
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Fri. Dec. 8 @ 8:30 am ET - Employment Data
* Wed. Dec. 13 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Jan. 3, 2024 @ 2:00 pm ET - FOMC Meeting Minutes
* Wed. Jan. 17 @ 2:00 pm ET - Beige Book Report
* Wed. Jan. 31, 2024 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
*** CLICK HERE for link to Economic Calendars for all upcoming events.