Commodities

Crude Oil Likely To Rally Before Heading Lower Once More

Where Is Crude Oil Headed? West Texas Crude Oil (WTI) is currently sitting near $47.85/barrel, and continues to waffle around its 200-day average near $48.75.  I took some profits on my “short” crude oil position (via the short crude oil ETF, NYSEARCA:SCO) as I’m still looking for a bounce toward…

S&P 500 Futures Trading Outlook For March 22

Stock Market Considerations For March 22, 2017 Momentum selling aggravated a move downward below key weekly support levels. The S&P 500 (INDEXSP:.INX) is trying to bounce… Check the support levels in the commentary below and on the charts. Check out today’s economic calendar with a full rundown of releases. Note that the charts below…

S&P 500 Futures Trading Outlook For March 20

Stock Market Futures Considerations For March 20, 2017 The S&P 500 (INDEXSP:.INX) is bouncing off support and looks to consolidate at higher prices. As for commodities, crude oil is rangebound while the buy rating on Gold last week from GS holds the precious metals higher but into consolidation. Check out today’s economic…

U.S. Corn Futures Weekly Outlook: Headwinds Persist

May corn futures moved slightly higher this week, closing up 3 ¼-cents per bushel week-on-week, finishing on Friday (3/17) at $3.67 ½. Friday’s positive close was important for corn bulls with May corn futures under significant selling pressure from March 6th through March 14th, breaking 23-cents per bushel from high-to-low…

S&P 500 Futures Trading Outlook For March 17

Stock Market futures Considerations For March 17, 2017 I am looking at 5440.75 on Nasdaq futures being a temporary high for now as we consolidate at higher lows.  The move that spiked gold with the charts may have been a stop running move as volume there was a bit lower,…

Bearish Market Breadth Divergence A Warning For Commodities?

Every now and then you come across a chart that goes against your bias or your previous assumptions, and often times these charts are particularly worth paying attention to. I previously presented a bullish case for commodities, and continue to hold a bullish bias for a couple of reasons, but…

S&P 500 Futures Trading Outlook For March 14

S&P 500 (INDEXSP:.INX) Trading Considerations For March 14, 2017 The charts are showing tightened ranges heading into the Federal Reserve meeting and interest rate decision tomorrow. See today’s economic calendar with a rundown of releases. S&P 500 Futures Price support and resistance remain similar to yesterday. Use caution buying the breakouts or selling breakdowns. Use the retest to…

Natural Gas Outlook: Seasonality Trends Bullish For Spring

Natural Gas Technical Analysis Prompt-month Natural Gas (NG) continues to find support between $2.50-$2.55.  Is a rally now taking shape? While not shown on the below chart, the now expired March contract dipped to this support area in late February immediately prior to the contract roll (from the March contract…

Gold Trading Update: Eyeing Bonds & The U.S. Dollar

The trading setup for gold is very interesting here. At this point, there are a lot of “ifs” for this trade working out. The COT data for gold is only slightly bullish. Yet intermarket analysis looks promising:  If yields are topping here (bond prices bottoming), and the US dollar rolls over…