Lots of action in Commodities this week. The Gold and Silver charts are very interesting and I covered them off in the last 10 minutes of the recording. Oil is holding, but the oil stocks are continuing to go lower. With global markets softening a bit and the NASDAQ 100 really reflecting some weakness on the BPI charts, some caution has arrived.
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About the author:Greg Schnell, 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).