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Oil could push higher Global central banks have started to increase rates as higher energy prices persist and feed through the global economy. Oil is still looking to make further gains, up around 15% since our bullish note in July. HIgher prices are a function of three factors 1) Stronger than expected global economic growth, we haven't seen unemployment rise or services indicators dip despite higher rates 2) The market is starting to price in new energy demands from AI and data centres and 3) The obvious Middle East tensions. There's also the readjustment of oil prices to the new gold price, which sees the gold to oil ratio still above its historic levels. We see more upside for energy prices. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Still tough for silver Silver is down slightly since our June short note and now down around 15% since our short recommendation in March . The risk/reward doesn't look attractive at these levels. Markets are fragile, higher energy prices are causing inflationary pressures which are playing out in the bond market. While that should be positive for metals in general, the overall senitment around risk is changing with large leveraged positions seeing profits taken. We think silver will continue to consolidate through to the end of the year, forming a base, in which it can then build the next upward phase. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Zcash doubles Zcash has doubled since our long recommendation in May. It is now trading well above the 200 day moving average. In May we said "A pullback could see some consolidation in the US$400 range, but there is a lot of momentum here, so we would be surprised to see new highs in the coming weeks if overall crypto momentum stays positive." That seems to be materialising in the current crypto market, where traders are looking for different exposures with expoentnail upside. We think the momentum could continue higher, with the 200 day moving average providing support. Take caution, only for those with risk appetite. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Aussie to also rise against Euro We've been bullish on the AUDUSD since the begining of the year and now see a similar opportunt against the EUR. The thesis is similar, US will start to slow down, Europe will follow suit while Australia remains exposed to higher growth markets and commodities in particular. Some of the safe haven trade that is already in the USD and EUR will also start to unwind, as we have already seen in gold and silver. The next phase will be towards high quality currencies, where growth is still high, like Australia. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Bond markets fragile Scott Bessent's attempt to limit the bond sell-off caused market shocks last week. It's early days, and it's still unclear if we are at the cusp of the next big market contagion risk. Experienced traders always know: if you must panic, then panic early. The 30-year yield is now sharply up from the COVID low. Its has been at these levels previously, but we're now in a world with a lot more debt to GDP. The rate of decline in bond prices is also of concern. If the US Treasury continues to interfere, the risk grows and contagion could quickly spread. Bond yields all across the board could move higher. Take caution, regardless of which instrument you are trading. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Aussie holds, commodities push higher We reaffirmed our bullish view for the Aussie dollar in early July and in that note, we said holding the 200 day moving average level would be important. The Aussie continues to hold those levels and we think could continue to rally higher in to the rest of the year as commodity prices remain strong. Australia's central bank has reaffirmed its commitment to continue raising rates should inflation remain high. Meanwhile US yields continue to rise as bonds sell off. Consolidation around current levels could see the Aussie creep into the mid US$0.70-75 range in coming weeks. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Defending the Yen Japan has moved from talking about the weak yen to actively defending it over the past week. The key event was a coordinated U.S.-Japan FX intervention around July 30 to August 3. Key word being coordinated . Japanese authorities bought yen in size, while the U.S. Treasury also participated. This isnt a hostile defense. This is planned and well managed. We've likely seen Yen lows, with more gradual appreciation now likely in coming months. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Big test for Apple Apple's share price has been one way for the past decade - up. But as we know in markets, nothing lasts forever. Markets never move in straight lines and usually revert back to their mean (averages). This is important because Apple has been carrying much of market weighted indices with it. As the (second) largest company in the world, valuation is important. Apple will move ETFs and market based funds. The 200 day moving average is key, we see that as the next test in the coming months. Perhaps weeks, if the overall market decides to pullback. If you're long, make sure you have insurance (stop losses). Brilliant business, but valuation is something completely different. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Nasdaq still vulnerable here We've been cautious on the Nasdaq for some time now, mainly on the back of the valuations in AI and related industries. Our June note cautioned upcoming reporting season and general market risk appetite. We're still trading close to those levels and price action has remained fairly range bound. But there seems to be risk building under the bonnet and the best time to start building short positions is when everybody least expects downside. Key levels are for the 200 day moving average currently in the high 26k range. The discussion in DC around AI models and distillation could go either way. From a risk to reward perspective, we see downside as more likely. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Oil back in focus as tensions flare In late June we said oil was looking for a base . The 200 day moving average has provided a strong support level and renewed tensions now back in play, it seems like oil is about to make a new move higher. There's strong support in the high US$70 per barrel range. It doesn't seem like geopolitical tensions are going to be solved anytime soon. There could be more upside in the coming weeks. An additional interesting anecdote - the gold to oil ratio has recently come back to the mid 40x level, down from a peak of around 80x earlier this year. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Gold to move lower Gold is down around 7% since our short note in late May . We think there is still more downside, probably sub $4000 per ounce which is where the price action is indicating gold goes in the next couple of months. A base level where consolidation occurs, is dependent on how steep and how quickly we get there. Leverage is a wonderful force on the way up. The problem is, many traders forget of the consequences of leverage unwinding on the way down. Patience pays. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Aussie still bullish despite pullback The Australian dollar continues its upward trend against the US dollar, despite a recent pullback which sees it trading below US$0.70. The daily chart is still trading above the 200-day moving average. There could be some more US dollar strength in the coming weeks, mainly on a revision of inflationary expectations. If inflation does persist, it will be positive for commodities and the AUD is seen as a commodities currency, so we're maintaining our medium term bullish stance. If the 200-day moving average breaks, we will revisit. For now, it provides a good stop loss level for Aussie bulls. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

More downside for Bitcoin We've been bearish for a while. We cautioned downside in April and again in May . It seems like the Bitcoin price is still looking for a floor to consolidate around. With the market now trading below the 200-day moving average, we think there is more downside towards the $40-50k range in coming weeks/months. Bear markets can be deep and slow to recover. Any bulls still holding should take downside protection. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Time to form a base Oil is down around 20% since our short recommendation at the end of May . We're now back around the 200 day moving average, where we expect consolidation and a base to form. It could sit here for some time, trading slightly up and down on newsflow. But the 200 day moving average as the global economy works through the supply shock for the remainder of the year. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

More consolidation ahead for silver Silver is down around 12% since our short recommendation in mid March . We've been bullish throughout the year but we also need to be realistic with what the charts are telling there. The bull run has a big gap in the charts which is liklely to see more consolidation in the coming months, before a base is formed. We don't doubt the long term narative, we just see more selling pressure ahead. The 200 day moving average needs to hold at current levels. Otherwise, there could be more downside towards the mid $50 level. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Nasdaq wobbles, next month is key The recent selloff on the Nasdaq causes us to revisit the chart and observe key levels. The index is still in an upward trend but the next month or so will be key to see if pressure on chip stocks translates into a largest market sell-off. Current levels are well above the 200-day moving average, but markets can move quickly. Particularly with leverage around and the pace of AI adoption rising exponentially. Anything is possible. If you must panic, then panic early. Downside protection is warranted at the 200-day moving average which is still around 10% from recent levels. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Downside for gold This year has been a wild ride for gold. It's hard to be bearish given the big gains already banked. But we think markets always have a tendency for mean reversion. This time is no different. The 200-day moving average on gold is key, we're sitting at those levels now and if they don't hold, we could see more profit taking as the market looks for a consolidation base, before making higher levels. If gold does pullback, as we're expecting, we could see support at around the US$3400-3600 per ounce level in the coming months. The top is in ( we called a Short in April ), the bottom is undergoing a discovery phase. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Oil pullback on the cards Brent crude is due for a pullback, once the dust settles in the Middle East. We see $80 per barrel as a potential consolidation point, upon which future gains could be made on non-war related thesis. The world is hungry for energy, that won't go away. The type of energy is the big question. Oil has a built-in self-correcting mechanism. Every time it rallies hard and quick, global economies struggle with price rises, dampening demand and bringing the price back to a more normal level. We feel that could happen in the second half of this year, the 200-day moving average should continue to hold in an upward trend. But there is some downside here from profit taking post US/Iran negotiations. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Big test for Bitcoin The recent Bitcoin rally seems to be running out of momentum sub $80k, which is an important level to watch. For the bulls, we need to see is the price move through the 200 day moving average and consolidate in the mid $80k range, before the next upward leg. If we fail at the 200 day, we could see the market drift a little lower in the coming weeks. We did caution on Bitcoin pressure in early April . Even though the price has bounced higher since then, we haven't seen a convincing break through the 200 day simple moving average. We're still well below all time highs. Bulls should add some downside protection. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Zcash back in play We first pointed out Zcash in October last year at around the $280 level . It went for a nice rally up to all time highs of around $700, where we updated to a sell on November 10, before coming back and basing. It recently bounced again, now trading well above its 200 day moving average which seems to confirming basing in the US$250-340 range. A pullback could see some consolidation in the US$400 range, but there is a lot of momentum here, so we would be surprised to see new highs in the coming weeks if overall crypto momentum stays positive. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Still bullish on Alphabet Alphabet is up around 28% since our long recommendation in November . We remain bullish and maintain our long position. The AI revolution is in full force and compute is the single biggest constraint. Alphabet is well placed to continue powering its own AI stack, with compute capacity. It is also building a strong B2C business through Gemini that is hot on the heels of OpenAI. We maintain our bullish recommendation and the chart is supportive. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Salesforce to go headless - take profit We've been bearish on NYSE:CRM for the past few months as software has sold off in light of the AI disruption that is about to hit markets. Salesforce is down around 25% since our initial short note in August last year . We think its probably a good time to lock in some profits at current levels, where we think the stock could start to find some support and potentially attractive value investors who have been on the sidelines. Particularly as the broader market continues to rally. Salesforce has made some interesting announcements in recent weeks. These include decoupling the front-end user interface from the backend data/logic, allowing developers to use Salesforce as a raw data engine, powering custom experiences via APIs. It could be a major pivot in the right direction. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

More Aussie upside The Australian dollar continues to move higher against the US dollar after a decade of lacklustre returns. Renewed global tensions and rising US debt have once again brought reserve currency alternatives into focus. The Aussie ranks high on the list, supported by strong yield returns and exposure to rising commodity prices. We believe the Aussie is in the early stages of a prolonged bull run, similar to the period following the dot-com crash, when it rose from just under fifty cents and marched towards parity over a six-year period. For now, the key level remains the 200-day moving average, which needs to hold during any global uncertainty and cascading sell-off. If it does, it sets up a strong support base for a move towards the mid-70s against the US dollar, where it may then consolidate into year-end. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.

Gold setting up for more upside Gold has been consolidating over the past few weeks . We think the current trading pattern is a consolidation which sets it up for future upside. It won't be immediate though, there could be more consolidation at current levels with the 200-day moving average providing good downside support for the time being. It doesn't look like any of the bullish factors have gone away. There could be more volatility in markets as geopolitical unrest continues, that could see liquidations and sell-offs. But again, the downside seems to be finding buying support. Patience is key. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.