Hey folks, Nick Valdez here and today
we're going to be talking about the gold
and silver prices. We have gold hitting
against resistance. Also, we're going to
look at US oil, nat gas, and I'm going
to tell you exactly how I'm trading some
natural gas options, folks. And of
course, we're going to look at some
other commodities as well. We're going
to look at copper. Copper very close to
an all-time high yesterday. And I have
very interesting food prices that might
be related to what we're seeing with the
inflation print, everybody. And
including a major, major breakout
underway for one of the major food
staples out there. Well, let's go ahead
and jump into the gold chart, everyone.
Now, gold hitting against this
resistance right here. Now, I want you
to remember this. Look at this high in
April and high in May cuz what we're
seeing with silver is a very different
perspective, folks. But right now, if
you draw this trend line from the high
here to the high there, we are hitting
against that and you can see we're
rejecting off this price just today. Uh
we hit it against it yesterday. We also
hit it against it on Thursday of last
week. And now we have some potential
targets to the downside. Well, the areas
the main areas that I'm watching is this
pivot high. You can see it acted as a
resistance that established our trend
line. And if you draw it out, that took
us right to this wick here in May of
2026 for the gold price. And it also
acted as support down here. Now, this is
an ever-changing target, but right now
looks like it's right around 3960.
And this one is going to be moving,
folks, as it heads a little bit lower
and lower. Let's just say if it were to
happen tomorrow, actually 3920. So, 3940
right there. So, keep an eye on this as
this price is going to be slightly
declining as we move forward. Now, let's
look at the silver chart. Now, remember
I said look at the April high and the
May high of this year. Look at silver.
This is the April high and this is the
May high. So, we're seeing a much
different chart analysis where silver
was putting in a
as far as a local time period or a
smaller time period, was putting in a
higher high where gold was putting in a
lower high. So, silver does have some
key potential breakout targets that
might not be on the table for gold, but
definitely on the table for silver. And
then we're going to look at my nat gas
trade everybody and of course we'll look
at the US oil as things, you know, start
to heat up in the Middle East. Now, with
silver, I am looking at this pivot low
that actually acted as resistance and
gave us a nice horizontal pivot line.
And so, this might be a potential area
to maybe, you know, have a nice little
area of support and maybe silver can
bounce from this. And then we can start
talking about retouching the top of this
parallel. You can see the bottom here,
the top here. That establishes these two
lines right here in this parallel
channel. And then we came down here,
acted as support, and it acted as
resistance again. Acted as support
again. And so, if we do shoot all the
way up here, you're looking at silver
hitting in the 70s, folks. This looks
like right around $77 if it happens say,
you know, within the next couple weeks.
This is today's the 18th, of course, and
this is going to be about 10 days later,
the 28th. You got about a $77.75
oz of silver. But, right now I'm
watching for a retest, aka return to the
scene of the crime. And with silver, we
are in some silver options. We we got
some forward dated options a couple
months, October for the strike price
there, and we are in the money. But, if
we come down retest, I might even add
cuz I have taken some profit. I've
locked in profits. I have some extra
cash on the sidelines. Maybe I redeploy
if the support starts looking kind of
strong, folks. All right, now let's look
over at the other commodities. Let's
look at oil.
Oil also in a descending parallel
channel, pretty close to the top, folks.
This is, you know, you can see the
bottom here, the top here. We could just
keep kind of bouncing around in this
range and it looks like we had some nice
support right here, right below the
midway point of the parallel, which is
what we saw right here as well. Nice
little support at the midway point of
the parallel, but we might get pulled
down and, you know, if we see a lot of
peace talks as we get closer to the
election, I'm going to start looking for
some longs at the bottom of this
parallel. I don't think I'd want to jump
in at the midway point here. Now, let's
look at nat gas, everybody. Nat gas.
Look at this pivot high in February of
2026. And if you come into this area
right here, that establishes this trend
line. Let me get that just a little bit
further. Establishes this trend line and
what do you know? Nat gas bouncing off
this as support. So, we might see a
potential breakout on nat gas. Cuz nat
gas, you know, is related to oil, but
there's going to be a it's a different
animal, folks. There's a lot of
production in America, whereas US oil's
a little bit more dependent on the
Strait of Hormuz, but nat gas, there
are, you know, nat gas facilities.
They're in Cutter. They have some in
Saudi Arabia as well. And so, don't
think that nat gas is going to be immune
to what we're seeing over there in the
Middle East, thousands of miles away.
Now, as far as a breakout level, I'm
liking this pivot area right around 332,
330 or so. I To me, that would be a good
place to take some profit, but I told
you I'm going to reveal how I do my
trades with nat gas. I'm primarily using
an ETF. Can I get a little make them say
in the chat because it's U N G? I know,
I had to do the Master P reference
there, folks. Now, looking at the pivot
high,
it's March of 2025. And then you can see
this pivot high in January of 2026. And
so, if we were to just kind of look,
March of 2025 is this area right here.
So, nat gas was higher in this area, but
if you look at this nat gas
uh this is the United States Natural Gas
Fund LP. If you look at this nat gas
ETF, it's a lower high. So, maybe a
little bit of opportunity here. But, we
are below this
slightly ascending trend line. And so,
I'm keeping an eye on this. Uh this is
also another one. We we got some
options. Uh we did buy some here, took a
little profit, dipped below, added to
our position. And so, I'm looking for
some exits, you know, maybe around if we
can uh get to some of these pivot areas
right here. Or honestly, I might even uh
you know, take an exit right around this
trend line cuz as we added here, we
lowered our average entry price on this
one. Now, let's have a little teaching
lesson.
You know, in a little bit after this
copper chart cuz copper, huge huge move
in copper yesterday. We actually had our
highest close in history. Now, you can
see we wicked higher back here. This is
January 2026. But, as far as daily
closes, this is the highest close we've
ever seen when it comes to copper just 2
days ago. And the highest open was
yesterday. And so, copper at basically
an all-time high with a major pullback
today. Now, the wick yesterday didn't
hit this wick that we had seen, you
know, earlier in the year.
This is going to be of the heightened
volatility. There's a little bit of an
AI play here. The data centers do use a
lot of copper. But, you know, copper's
just going to be in electric vehicles as
well. It's just going to be in uh home
building. So, it's a a lot of moving
factors when you when you talk about the
copper chart here. But, let's zoom out a
little bit cuz it looks a little bit
sloppy.
But, this is a long long ascending
parallel. And so, you can see the top
here. You can see the bottoms there. If
you zoom in, you can actually see some
pretty pretty strong support. Like, look
at this daily candle uh close in this
candle open. Look at that candle open as
well. And so, you're seeing a lot of
just activity around this parallel
channel. And we go right here, you can
also see a lot of activity. We did try
to, you know, break out of this range,
pulled back very quickly the very next
day, wicked into it there, wicked into
it there.
Uh try to break above and then that's
where you're going to see that pivot
high right there. The pivot, the
resistance, we got it right around
14,110
on the copper price. But now let's do
little bit of a teaching lesson here.
Can you folks spot the setup? I'll wait
a minute. I'll let you kind of look at
this chart, soak it in, soak in the
bubble bath here. What chart setup are
we seeing? I'm trying to not, you know,
give give the lead away here.
And so before I reveal that, I want you
to look at this trend line as well. So
if we draw this out, bam, what do you
know? We hit that there for resistance.
Kind of hit it right there for
resistance as well. So this might be a
little bit of a hurdle for this, I'm
going to reveal it, inverse head and
shoulders. And so I'm kind of waiting to
to make sure we can get past this trend
line here. Folks, this could be a very
nice inverse head and shoulders
breakout. You can see the left shoulder,
you can see the the head, and then you
can see the right shoulder, and we
rejected off the neckline, and now
coming in for one more retest. So keep
an eye on this on the wheat chart. So
this is wheat.
Let me remove that. Wheat Teucrium Wheat
Fund ETB. So this basically a wheat ETF,
an exchange exchange traded vehicle,
that's what the ETB stands for. But I'm
also seeing a huge breakout on another
food ETF, and that is corn. Corn, look
at this, folks. Now we have really had
to zoom out. This is May of '22.
Corn also spiked in '22 as well as
wheat. Wheat, of course, had a major,
major spike because of the the
Russian-Ukraine war. There's a lot of
wheat that is produced in that area. So
the war spiked the wheat futures. So we,
you know, people paying a lot of money
for those bushels of wheat relative to
what we had seen in the past. And
because wheat was going to be more
expensive, well, people assume, well,
you know, they're going to be looking
for a substitute of wheat. One of those
main substitutes is going to be corn.
The other one is rice. And so corn,
though, looking at this descending trend
line, folks, potentially breaking out of
this. And we've seen some very
interesting prints with inflation, so we
might see some more expensive food
costs, especially if these corn and
wheat ETFs or ETVs, they start spiking
in the future cuz it's going to dictate
what you see at the grocery store. It
won't be immediate. If you see this
spike here, don't expect that the corn
cob to all sudden cost more at Publix or
Kroger or what- whatever your favorite
grocery store is. I Walmart actually
sells the most. But you will see it down
the line. It will take a while, but
it'll trickle through the supply chain.
And the next thing you know, corn's in a
lot of things, folks. You're going to be
opening a bag of Doritos, and you're
going to be like, "God, why did Doritos
get so expensive?" The corn chart kind
of tells you what's going on, folks. So,
that is the commodities video for today.
Keep an eye out, especially on this gold
breakout, or I'm sorry, you know, trend
line here as it rejected a breakout and
maybe trying to, you know, shoot above.
But, folks, pretty close to a bull flag
setup here, so we might have some very
interesting targets. And if you lay out
that bull flag, it looks like we're
going to be potentially playing with
some of these pivot highs right around
4,800, 4,700. So, keep an eye on this
chart, folks. That's all I got for
today. Thank you for watching here at
Verified Investing.
Make sure you watch my show Crypto
Revealed 1:30 p.m. Eastern Standard Time
live every Monday through Thursday, and
Crypto Combat on Friday.
Very exciting episode last week. Make
sure you go back and check that out if
you haven't. And we put a lot of these
charts on the website as well,
verifiedinvesting.com. Check it out
below. We got a link. Thank you for
sticking around to the end as always.
Nick Valdez out. I'll see you in the
future. Appreciate it.