It’s the weekly commodity edition of What the FICC?
The major commodity indexes look ready to roll despite sustained strength from precious metals.
Check it out!
Metals Shine as Commodity Indexes Sag
From the Desk of Ian Culley @IanCulley
The Bloomberg commodity index $BCOM is breaking down, approaching fresh 52-week lows.
Somehow Gold and Copper didn’t get the memo. They must be too busy printing new highs.
But when we review other major commodity indexes (including our own equal-weight index of 33 individual contracts), they look poised to roll over.
My Top Seven Commodity Charts for 2023
From the Desk of Ian Culley @IanCulley
So long, 2022. It’s been real.
With only a few trading hours left in the year, I’m ready to turn the page. I’m sure plenty of you can relate.
In the spirit of looking ahead to a bright and beautiful 2023, I want to share seven of my favorite commodity charts for January.
No grand thesis, just seven potential setups that have my attention heading into the new year.
Commodities Play Defensive
From the Desk of Ian Culley @IanCulley
Have you noticed commodities are breaking out?
No, not crude oil or copper. I’m talking about sugar, live cattle, and soybean meal.
Though these contracts rarely find themselves on the front page, their upside resolutions provide an important commodity-trading roadmap heading into 2023.
Plus, their relative strength reveals insight into the underlying nature of the current market environment.
[Video] What the FICC?: Gold Remains Steady
It’s the weekly commodity edition of What the FICC?
Today, we focus on metals and the differences between correcting though price versus time.
Check it out!
Learning To Fall
From the Desk of Ian Culley @IanCulley
We all learn how to fall – the sooner, the better.
As adults, we forget this is one of the first skills we learn early in life. For better or worse, my one-year-old reminds me daily.
He’s amazing.
Yes, I’m one of those proud, doting fathers. But his coordination and acrobatics keep both of us out of the pediatric ER (and me, the doghouse). He pops right up whenever he hits the ground and keeps chasing his older brother.
Pure gold.
Since my mind is always lost in the charts, his agility and doggedness remind me of gold’s resilience during the past two years.
[Video] What the FICC?: Don’t Count Commodities Out
It’s the weekly commodity edition of What the FICC?
Not only are commodities losing their leaders, but the leaders are losing their former 2018 highs. As bearish as this sounds, commodities still deserve the benefit of the doubt.
Check it out!
Impending Weakness or Healthy Rotation?
From the Desk of Ian Culley @IanCulley
Not only are commodities losing their leaders, but the leaders are losing their former 2018 highs.
Heating oil futures just posted their lowest level since February. Meanwhile, gasoline and crude have printed fresh year-to-date lows, taking out their prior cycle highs.
Now what?
Should we expect broad selling pressure to hit the commodity space?
Not so fast… [Read more…]
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