Home Calling the bottom in commodity prices; Opportunity in Gold
Forex News Today: Daily Trading News

Calling the bottom in commodity prices; Opportunity in Gold

Alessio Rastani from Leading Trader, quotes that the commodities might be closer to a bottom, as he joins today’s Tip TV Finance Show, to discuss Commodities and why there exists opportunity in Gold and Oil stocks. Interviewd by Zak Mir, Technical Analyst at Zak’s Traders Café, and Nick Batsford, CEO at Tip TV.


Closer to a bottom in Gold and commodities

Rastani highlights a chart showing the prices of commodities doing back to 1960’s and compares it with the no of days the prices have tread below the 200DMA, and infers that given previous history of a rebound, we might be closer to a bottom in commodities now than we were before.

Rastani believes that this bottoming in Gold and commodities suggests there lies opportunity in gold and oil related stocks.

Smart money buying Gold

Rastani quotes the COT reports and says that the smart money is seen getting back into investing in Gold, and further adds that we might see a bounce in Gold prices pretty soon. When compared to historic basis (from the Gold and 200 DMA price movement comparison chart), there is usually a few weeks of delay before we would see the bottom, adds Rastani.

On the trade setup, Rastani says that Gold prices are in extremely oversold territory and if the precious metal closes above $1100 area, we could see a bounce towards $1130-$1140 levels.

Tip TV

Tip TV

Tip TV is a daily live finance video show, created for the financial trading community. Based in St Pauls, in the heart of the City of London, Tip TV is dedicated to supplying viewers with the very highest caliber guests with insightful and actionable infotainment.