200 Candles Hanging On The Wall

Just a few Commodity Charts

I wasn’t going to bother you today (or is it that I wasn’t going to bother today?!) but I found this interesting:

Quite a few key commodities are testing their 200 weekly moving averages.

SILVER

COPPER

OIL

These 3 charts look very interesting to me. I don’t want to say if it’s bullish or bearish so I don’t influence the reader but lets put it this way: 200 wma is usually a good support level for a bounce OR a pretty nasty spot for a breakdown.

Now why are all 3 commodities at the same time at their 200 weekly moving average?

It could be a coincidence.

Or it could be that the AI algos are having a laugh at the monkeys and drove the commodities to these imaginary support levels, that only monkeys believe that exist.

Or it could be that we are setting up for a big move. Up or Down. Keep monitoring.

Disclaimer:

This isn’t financial advice.

This is the trading blog of a shrub.

Don’t be Stupid.