These daily charts are flipped over to a view that is ‘anti’ their normal selves I have often referred to the improbably bullish (to many; NFTRH has tracked and respected the bullish dollar for a year now) US dollar as an anti-market, the liquidity collector from the global liquidity-driven and speculative mess created by the Fed and its fellows. But here is a look at … Continue reading ‘Anti’ markets
It’s an oversold bounce for the copper price, the Copper/Gold ratio and likely other commodities The daily copper price (futures) is showing a logical bounce from a small support shelf and a deeply oversold condition (RSI). The Copper/Gold ratio, one of our primary economic signalers, is showing the same. Of course, anything can happen. But on the face of it this chart advises the potential … Continue reading Doctor Copper: Oversold bounce
Natural Gas futures down nearly 18% in one day The heading above tells why. I am just not wired for this kind of volatility. This could well be a buy opportunity at a higher low, however. That is the kind of thing I could buy in a wild commodity like Gas. A buy as close as possible to 6.50 and a tight stop below that … Continue reading Why I left NatGas alone
From NFTRH 708’s Commodities segment… Gas on the other hand, while bullish, has a chart that is more suspect. There is a negative RSI divergence and a bad looking MACD. Okay, now watch it blast upward 10% tomorrow. ;-) Ladies and Gentlemen, I give you NatGas futures at +9.23% today. Ha ha ha… For “best of breed” top down analysis of all major markets, subscribe … Continue reading A little gaseous humor compliments of NFTRH 708
WTI Crude Oil fans along on its bullish way Back in April we (well, NFTRH) identified WTI in a bullish looking consolidation spiking above and below the SMA 50. I wanted to buy USO but first had to check to see if this sometimes inefficient oil tracker was doing its job. The ratio of USO to WTIC shows that it has been doing its job … Continue reading Crude Oil breaking consolidation
CAD and AUD are each at important support vs. the US dollar index There are just too many important support touch points on CAD/USD for this not to be a key support area right here. The same holds true for AUD/USD. These two commodity currencies have been joining fellow inflation-divergent items like the Gold/Copper ratio, Gold/Silver ratio, TSX-V/TSX ratio and the firm state of the … Continue reading Commodity currencies must stand and deliver, or break down
Gold vs. risk ‘on’, cyclical items For you sports fans keeping track at home, here is the current view of gold vs. the (much) more cyclical stuff using GLD and various ETFs representing the other markets. It’s a daily chart and you can see gold’s intermediate trend by the SMA 50. For “best of breed” top down analysis of all major markets, subscribe to NFTRH … Continue reading Gold vs. Cyclical Asset Markets
[edit] I did the right thing (I think) and took partial profits, letting the remainder ride for now. Sometimes it’s a tough call trying not to be the guy who sells too soon but also trying not to be the guy who lets a well-earned profit disappear. I’ve been both of those guys in the past and I can’t say I care for either of … Continue reading Man trying not to stare at these two charts [w/ edit]
Commodity tracker DBC is in a symmetrical triangle Largely driven by its crude oil component, CRB tracker DBC’s daily chart is taking the form of a symmetrical triangle, which is usually thought of as a continuation pattern by ladies who stare at charts. Captain Obvious advises of the previous uptrend and hence, if the sym-tri works as not only the ladies, but also the men … Continue reading Commodity consolidation
TSX-V has been a negative divergence to the inflation trades, but… You see, da ‘V’ has a bunch of cow pastures and barren holes along with a few nice prospects up there to the great white north. It has been negatively diverging the inflation trades for over a year now, but was an important indicator that we used in 2020 to confirm the inflation trades. … Continue reading Psst, be vewy quiet; TSX-V attempts a move…
Platinum joins its bullish fellow PGM, Palladium [edit] Solid profits now booked on all ‘paper’ bullion vehicles. Bird, meet hand. The Platinum price is making a move to try to keep up with big bro Palladium as it attempts a daily chart channel buster. Last week I cut my Pd position back to be roughly the size of my Pt position, leaving silver of all … Continue reading Platinum: “Me too!” [w/ edit]
War making and its likely after effects driving commodities So now it is not only the inflation that the Fed and other CBs created in 2020. It is not only the pandemic related supply constraints (vs. inelastic demand). It is also the upheaval in Eastern Europe and around the world driving the commodity bus. CRB index, driven by crude oil, assertively and definitively boinked the … Continue reading Commodity sector (CRB) target in, now what?
CRB commodity index hits target Not that it needs to stop here and not that I knew a tragic humanitarian event was going to instigate the final drive to 270+, but here we are. CRB index closed yesterday at 268.32 and is up over 3% this morning. So… target in. It’s a target we’ve had on for at least a year now. And it is … Continue reading CRB index: Upside target (finally) in, gold is better
If you’re only watching market prices (and drama) you’re missing key points beneath the surface I have not posted yet this week due to being preoccupied elsewhere, due to having done a lot of work lately getting in tune with what’s going on across the markets, due to being bored with the idea of being the guy telling gold bugs don’t buy gold because of … Continue reading Two macro charts
