Commodities Countdown

Gold Gets Tricky

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Gold has been working its way lower since July. Gold miners have been dropping since August. Currently the ratio of the Miners to the Precious Metal is clearly in a downtrend that is being tested today.


I will try to cover off more about Gold on Thursday's Webinar Commodities Countdown 2016-12-08.

Also, we need to look at the $COPPER surge. This has been a frothy rise and might need a little time to consolidate.

Oil has slowed and started to consolidate. Around this $50 level, no one is surprised at some resistance.

There is lots to talk about in Commodities this week.

There was a nice piece of analysis on CNBC last week by Carter Worth. Here is the link. Carter Worth - CNBC. I hope to cover this off on the webinar and look for opportunities around this idea. We'll see you on the Commodities Countdown 2016-12-08. If you miss the live recording, archives are here. Webinar archives.

Good trading,
Greg Schnell, CMT, MFTA.

 

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018). Learn More
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