From the Desk of Ian Culley @IanCulley
Danger Will Robinson, Danger!
Cocoa futures have violated a parabolic trendline.
And it may not be safe for bulls to hold their long positions…
Expert technical analysis of financial markets by JC Parets
by Ian Culley
From the Desk of Ian Culley @IanCulley
Danger Will Robinson, Danger!
Cocoa futures have violated a parabolic trendline.
And it may not be safe for bulls to hold their long positions…
by Ian Culley
From the Desk of Ian Culley @IanCulley
What goes up must come down.
It’s an old commodity market maxim that never fails to deliver. The cattle, sugar, and OJ markets embodied this truth last year.
But as the calendar flips to 2024, it’s time to track those markets that failed to launch in 2023.
Here are three of my favorites…
by Ian Culley
From the Desk of Ian Culley @IanCulley
I’m not concerned with last year’s winners heading into 2024.
Winners have a miraculous way of taking care of themselves (i.e. cattle, sugar, cocoa.)
Instead, my focus centers on those markets that failed to launch. Markets like this…
by Ian Culley
From the Desk of Ian Culley @IanCulley
Metals are dominating the commodity space.
The rotation between energy and base & industrial metals colors the commodity markets as we near 2024.
Crude oil has slipped through buyers’ hands since interest rates peaked in October. That much is obvious…
But don’t short crude oil and its distillates just because copper and gold are catching a bid…
by Ian Culley
From the Desk of Ian Culley @IanCulley
Metals are beginning to shine.
Gold’s new all-time high has captivated the masses. But all that glitters isn’t gold.
In fact, base and industrial metals are also providing ample trading opportunities.
by Louis Sykes
From the desk of Louis Sykes @haumicharts
Whenever we want to gauge animal spirits in the precious metals space, we resort to our trusty intermarket ratios.
Two weeks ago in our Gold report, we covered the notable bounce we were witnessing in the Silver/Gold ratio, pointing to brewing risk appetite within this space. And this week, we outlined a bullish trade in the iShares Silver ETF off the back of this recent momentum.
But when we take this relationship one step further, we see a similar situation in the relationship between Silver and Gold mining stocks.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Commodities are losing ground as money flows back into stocks and bonds in hopes of a Santa Claus rally.
Yet fresh strength in equities isn’t completely leaving commodities in the dust. In fact, numerous bullish developments are underway for raw materials.
Dr. Copper is working its way higher. Crude oil is refusing to throw in the towel despite increased selling pressure. And softs such as orange juice, cocoa, and sugar are flying toward fresh decade highs.
That doesn’t sound bearish to me, especially when considering new buying opportunities in the grain markets…
by Ian Culley
From the Desk of Ian Culley @IanCulley
The tide is turning for commodities now that the dollar and rates are falling.
Crude oil is relinquishing its leadership role. Gold and silver are catching a bid. And copper is digging in at former support.
But it’s not only base and precious metals bouncing off critical levels…