Commodities

U.S. Corn Futures Weekly Outlook: Hugging The 100 Day MA

JULY corn futures closed down last week. Here’s a look at the week ahead and what I’m watching in the corn market… and how July Corn futures are shaping up. Weekly Highlights & Corn Outlook Monday’s Weekly Crop Progress report showed the U.S. corn crop just 3% planted as of…

Silver Gold Ratio… Set To “Spring” Precious Metals Higher?

Metal heads have been very patient in 2018 as Gold continues to press up against breakout resistance. One thing that has been missing is Silver strength… but yesterday’s big move by Silver may be the lift that precious metals need. During bull markets for precious metals, silver tends to lead….

Commodities Compression: Price Nearing A Decision Point!

The commodities space has dealt investors a difficult hand over the past decade. Back in 2010/11, the Thomson Reuters Equal Weight Commodities Index peaked following a fast and furious move to the upside. Since then, Commodities have been a mess. Failed rallies and rangebound trade have caused frustration across crude…

S&P 500 Futures Trading Outlook: Price Targets In View

Broad Stock Market Futures Outlook for April 17, 2018 Higher lows prevailed to give us higher highs as buyers push us into regions not seen since mid-March in solid earnings releases.  Resistance watches are still the order of the day as momentum holds bullish. How well we bounce off pullbacks will be the…

Oil ETF (USO) Nearing Elliott Wave Reversal Area

Crude oil prices have made a significant break out of the long-term downward channel in recent months. This has led us to treat last year’s low as a durable low, and we believe a new upward pattern has begun forming in the very big picture. However even with a long-term…

U.S. Corn Futures Weekly Outlook: All Is Quiet

Last week, May Corn futures closed down 2 1/4 cents per bushel, finishing at $3.86 1/4. The April WASDE report had few surprises and Corn may be in for some additional consolidation.  Here’s a recap of the WASDE report along with my analysis and short-term forecast. On Tuesday the USDA…

Patient GOLD Bulls Continue to Wait for a Breakout

The following chart and data highlight non-commercial commodity futures trading positions as of April 10, 2017. This data was released with the April 13 COT Report (Commitment of Traders). Note that these charts also appeared on my blog. The chart below looks at non-commercial futures trading positions for GOLD. For the week, spot…

Gold Is Knocking… Will Metals Bulls Answer?

Is gold ready for primetime? The shiny metal is testing the $1360-$1370 level for the fourth time this year. One factor that has helped to keep Gold elevated is a weaker U.S. Dollar.  The chart below highlights the Gold/U.S. Dollar ratio. Metals bulls want/need to see this ratio heading higher…

A Breakout Here Could Produce Another Gold Rush

Gold prices have chopped higher since bottoming in December 2015. The move has not been as exciting as precious metals bulls would like but its followed a trend of higher lows nonetheless. During the same time frame, Gold has tested the $1360 – $1375 price level on multiple occasions –…