Commodity Markets Summary for Mar 25, 2020
Commodity Markets Technical Analysis Market Overview Report for Mar 25, 2020 | by Techniquant Editorial Team
With five out of the eight Commodity Markets closing higher today, the ones that stand out on the positive side are COFFEE gaining 3.46% and WHEAT closing 3.43% higher. On the flipside the worst performers have been GOLD closing -1.54% lower and NATGAS losing -1.15%.
One of today's most interesting market conditions in the Commodity Markets showed up in COFFEE: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "6 Consecutive Higher Closes" stand out. Although it is usually interpreted as bullish, it has actually shown to be bearish for Coffee. Out of 14 times, COFFEE closed lower 57.14% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 71.43% with an average market move of -0.96%. Read more