CFD Trading Commodities Video Report 9 May 2014 Commodities Precious Metals US Spot Gold 1288 TradingLevels: Next support 1280 and looking for a retest of the strong move down from 1314 Elliott Wave: On the daily / weekly chart there is a Triangle unfolding as intermediate wave (4) which is a five wave sideways structure labelled ABCDE as Wave (4) and currently in Wave D. Wave D will be in three waves abc and Wave a in five small waves down ins completed and Wave b can retest 1300 before moving lower to 1272 Trading Strategy: no trending strategy and following the abc pattern would roughly see the bounce around the 1270 -- 1300 range a few times Trade: US Spot Silver 1914 Technical Analysis: Expect a bounce off 1900 the resistances are 1920 and 1930 Trading Strategy: 1930 as support is the normal set up. The expected move higher off 1900 is not confirmed by an impulse wave off 1900 Trade: Base Metals US Spot Prices (in l/b) US Copper: Last: 3.07+ US Nickel: Last: 9.01+ US Zinc: Last: 0.92- US Aluminium Last: 0.7757- US Copper 308 TradingLevels Expect resistance from 308 - 310 Elliott Wave: It's a bear rally to 310 and above 310 a bullish pattern Strategy: Oil WTI 100 TradingLevels: The pattern across 100 from the beginning of May is likely to develop as bearish corrective and see further downside, but make sure its tested resistance before shorting Elliott Wave: The abc corrective rally to 310 is completed and Trading Strategy: The abc corrective rally can be completed, however corrective patterns at large number can become sticky and increase in size, so make sure the that 100 is tested resistance or you can clearly see five waves down from Wave c as currently there is only three (bullish corrective) Trade: Natural Gas 4.50 TradingLevels: Only if the market moves back into SG2 4.65|4.72|4.80 can the market be called bullish, that said, expect a retest of the 460 -- 465 area Elliott Wave: The 4.50 is the 61.8 retracement level Trading Strategy: Trade: Grains Soybeans 1486 TradingLevels: Support on the mediumlevel 1500 is bullish and the market on the daily is still oversold, we can also line up the wave count to help confirm the direction, but this will take another two sessions as the move up is three waves not five Elliott Wave: Wave (c) is likely in place and now we need to see an impulse wave up (five waves) and so far there is 5-3-5 there waves, so it can fail at 1500. Strategy: If you long above 1450 or 1472 looking to lock in profits near the current highs and wait to see if firstly the wave count can count five waves up off the low 1441 and secondly the 1500 as tested support after a abc correction across 1500 Trade: Wheat 722 TradingLevels: The 1720 and 1710 are good supports, but if the 720 becomes the tested resistance then a larger top if forming and a move back below 700 would play out. It is common for the market to spike below 720 (pivot group1 (2)) while developing support on group1 730 (3) Elliott Wave: Same - Intraday, there are five waves up from 700 to the current high, so expect an abc retracement possibly to 717 Strategy: Long on 730 support Stop 676. Please note we are playing this as a longer term trade and stops will be kept out of the way (that said if you see the 720 as tested resistance, then exit) Trades: Pending Long 730, 740, 750 target 800 Long 720 support Stop 676 US Corn 506 TradingLevels: The market has struggled over April and May to get above 520 pining the market to 500, so we may see a larger corrective pattern below 500. There is still a bullish count in play before turning bearish. Elliott Wave As long as the market stays above the last low 496.25 (500) the market maintains its bullish count Strategy: Trades: US Coffee 184 TradingLevels: There will be support at 180 (mTL8) and 172 Elliott Wave: The move down from the high 218 is only three waves but can develop into five waves and this is normally what I do, is simply observe the first swing low to see if its five or three waves as this helps with working out what's next Trading Strategy: The main point here is that we are now seeing the start of the ABC corrective pattern across 200 (TL2) and there is no strategy. If you have shorted the break of 200 then cover shorts into 180 Trades: US Sugar 17.13 TradingLevels: Same - If support is found on SG1 17.30 that is a positive step up setting the next target at 17.50 the midpoint. On the bearish side the pivot within SG1 the 17.20 (2) as resistance creates the first bearish element Elliott Wave: The low can still be in place, but we would have to see a move up from 1700 Trading Strategy: no strategy yet. Expecting a move from 149 to 161 Trades:

• published: 20 May 2014
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