Commodities Weekly Archives - Page 9 of 24

Here’s What to Watch for in Crude

May 5, 2023 by Ian Culley

From the Desk of Ian Culley @IanCulley

It’s getting busy in the commodities space.

Live cattle posted a new all-time high last month. Precious metals are gearing up for a potential rip-roaring rally, as gold retested all-time highs yesterday. And sugar futures refuse to quit.

But when I review my commodity charts, I notice more topping formations underway than bottoming patterns.

Crude oil is front and center as the energy space – commodities and stocks – remains one of the weakest areas of the market.

That’s why yesterday’s action in crude has my full attention…

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It All Starts With Wheat…

April 21, 2023 by Ian Culley

From the Desk of Ian Culley @IanCulley

The increased selling pressure across grain markets might not be on your radar.

But pay close attention: The soybean complex, corn, and wheat are edging toward their respective year-to-date lows as demand wanes.

Even if you don’t trade these ag contracts, fresh multi-month lows – especially in wheat – carry broad implications for equities and cyclical assets. (Hint: It has to do with crude oil.)

That’s why I’m on high alert for a potential breakdown in Chicago wheat…

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Another Face-Ripping Commodity Rally

April 14, 2023 by Ian Culley

From the Desk of Ian Culley @IanCulley

There’s no doubt about it: Fundamentals drive markets over longer time frames.

It’s a common misconception that technical analysts don’t believe in fundamental analysis.

That’s not true.

Many of us simply chose to follow price for a multitude of reasons. Price always made sense to me, especially since it pays at the end of the day.

Whether you use fundamentals or technicals to inform your investment decisions comes down to philosophy.

Remember, we’re all solving the same puzzle – just from different perspectives…

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Three Reasons Palladium Could Rip

April 7, 2023 by Ian Culley

From the Desk of Ian Culley @IanCulley

Precious metals and crude oil stole the show this week.

Crude oil reclaimed its prior-cycle peak, gapping higher on the Sunday open, while gold and silver posted fresh highs.

I’ll have more on those shiny metals Monday in the weekly Gold Rush report.

Today, I want to bring your attention to a commodity that often escapes the headlines – palladium – and why I think a significant bottom could be in place for this diverse metal.

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Commodities Shimmy as Cocoa Pops

March 31, 2023 by Ian Culley

From the Desk of Ian Culley @IanCulley

Buying opportunities abound across commodities.

It’s easy to miss this phenomenon if you’re solely focused on the major indexes, as the CRB Index and the Bloomberg Commodity Index $BCOM broke down earlier this month.

Don’t let those charts mislead you. Plenty of sweet setups present themselves.

And the next chart is by far my favorite…

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Gold Shines as Rates Drag on Commodities

March 24, 2023 by Ian Culley

From the Desk of Ian Culley @IanCulley

I can’t think of a better time to review the major commodity indexes.

The rising rate environment is reversing, and it’s taking commodities with it.

Let’s dive in and see what’s going on in the space! We also need to check in with a key intermarket ratio, revealing where we want to position ourselves in the coming months and quarters.

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Energy Is on the Ropes

March 17, 2023 by Steve Strazza

From the Desk of Steve Strazza @Sstrazza

Due to the recent bank failures, this week has been all about the financial sector and the selling pressure taking place there.

However, the price action for energy stocks has been even worse by some measures.

The Energy Sector SPDR $XLE is on pace to fall -6.8% this week, while the Financials Sector SPDR is only lower by about -5.8%.

When we look at energy futures, the outlook only worsens with crude oil registering its largest weekly loss since trading into negative territory in April 2020.

So, what does this all mean for the bull market in energy?

The sector has been so resilient, showing steady leadership for several years now. Is it all over?

Maybe not, but there is some serious damage that will require immediate repair work.

Let’s take a look at it.

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Why Friday’s Energy Bounce Has More Upside

March 11, 2023 by Ian Culley

Energy commodities are holding up despite last week’s selling pressure.

No, I’m not talking about natural gas – that rope snapped months ago.

But the rest of the main players – crude oil, heating oil, and gasoline – rebounded heading into the weekend. And when I look at the charts, Friday’s strength might be the beginning of a more sustained advance for energy.

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