Commodities CountdownStockCharts.comExpert market commentary from StockCharts.comtag:stockcharts.com,2019-04-18:blog-402024-01-22T23:13:39ZCommodities Create Reversal Signals 2018-09-21 VideoGreg Schnelltag:stockcharts.com,2018-09-24:post-144662020-01-06T08:01:07Z2018-09-24T01:42:00Z<p>Commodities kicked off a parade of signals this week. After months of beating up buyers, the charts kicked off some significant oversold reversal signals. Going through the charts, a theme of reversals emerged. Crude Oil moved above the 50 day moving average last week. This week it held up there, but the related ETF's started to join the party. Things get real bullish if the $BPENER moves above the 50 day moving average.</p>
<p><a href="/h-sc/ui?s=%24BPENER&p=D&st=2017-11-08&en=2018-09-22&i=p21004042819&a=620894598&r=1537653994941"><img src="https://d.stockcharts.com/img/articles/2018/09/1537654004011710394339.png"></a></p><p>Commodities kicked off a parade of signals this week. After months of beating up buyers, the charts kicked off some significant oversold reversal signals. Going through the charts, a theme of reversals emerged. Crude Oil moved above the 50 day moving average last week. This week it held up there, but the related ETF's started to join the party. Things get real bullish if the $BPENER moves above the 50 day moving average.</p>
<p><a href="/h-sc/ui?s=%24BPENER&p=D&st=2017-11-08&en=2018-09-22&i=p21004042819&a=620894598&r=1537653994941"><img src="https://d.stockcharts.com/img/articles/2018/09/1537654004011710394339.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/09/commodities-create-buy-signals-2018-09-21-video.html">Continue reading "Commodities Create Reversal Signals 2018-09-21 Video" »</a></p>Commodities Continue To Struggle 2018-09-14 VideoGreg Schnelltag:stockcharts.com,2018-09-17:post-144202020-01-06T08:01:06Z2018-09-17T13:23:56Z<p>The commodity charts continue to drift lower. There are lots of nice trend lines formed, but there seems to be little energy for a break to the upside just yet. The currency charts are important this week as the $USD seems set up for a sell signal on the momentum indicator. That might create a spark in the commodities and the emerging markets.</p>
<p><a href="/h-sc/ui?s=%24USD&p=W&st=2014-06-23&en=2018-09-17&i=p83128333457&a=619537562&r=1537189148322"><img src="https://d.stockcharts.com/img/articles/2018/09/15371891521421057354423.png"></a></p><p>The commodity charts continue to drift lower. There are lots of nice trend lines formed, but there seems to be little energy for a break to the upside just yet. The currency charts are important this week as the $USD seems set up for a sell signal on the momentum indicator. That might create a spark in the commodities and the emerging markets.</p>
<p><a href="/h-sc/ui?s=%24USD&p=W&st=2014-06-23&en=2018-09-17&i=p83128333457&a=619537562&r=1537189148322"><img src="https://d.stockcharts.com/img/articles/2018/09/15371891521421057354423.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/09/commodities-continue-to-struggle-2018-09-14-video.html">Continue reading "Commodities Continue To Struggle 2018-09-14 Video" »</a></p>Commodities Continue To Weaken 2018-09-07 VideoGreg Schnelltag:stockcharts.com,2018-09-09:post-144212020-01-06T08:01:07Z2018-09-09T22:20:46Z<p>Commodities continue to weaken again this week. Whether it was Copper or Aluminum, Natural Gas or Gasoline, it was another tough week for the commodity arena. The $CRB closed below the midpoint on the week and reversed the two week counter trend rally. The index also closed at a major horizontal support/resistance level around 190.5.</p>
<p><a href="//stockcharts.com/h-sc/ui?s=%24CRB&p=W&yr=2&mn=9&dy=0&i=p16318395698&a=617702902&r=1536528908491"><img src="https://d.stockcharts.com/img/articles/2018/09/15365289162891222280761.png"></a></p><p>Commodities continue to weaken again this week. Whether it was Copper or Aluminum, Natural Gas or Gasoline, it was another tough week for the commodity arena. The $CRB closed below the midpoint on the week and reversed the two week counter trend rally. The index also closed at a major horizontal support/resistance level around 190.5.</p>
<p><a href="//stockcharts.com/h-sc/ui?s=%24CRB&p=W&yr=2&mn=9&dy=0&i=p16318395698&a=617702902&r=1536528908491"><img src="https://d.stockcharts.com/img/articles/2018/09/15365289162891222280761.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/09/commodities-continue-to-weaken-2018-09-07-video.html">Continue reading "Commodities Continue To Weaken 2018-09-07 Video" »</a></p>Just A Wiggle In Commodities 2018-08-31 VideoGreg Schnelltag:stockcharts.com,2018-09-03:post-145242020-01-06T08:01:11Z2018-09-03T16:28:00Z<p>Commodities wiggled this week. It wasn't very exciting to watch but it still suggests paying attention. Crude oil closed above the 50 day moving average, but some corresponding ETF's didn't rally with oil. XOP in the bottom panel traded sideways all week and closed marginally above the 50 day ma. While oil had a nice uptrend, XLE actually closed slightly lower than last week. I still like the oil related trade setup here, but the tepid performance suggests watching closely for a better entry. This week didn't really motivate the buyers.</p>
<p><a href="/h-sc/ui?s=%24BPENER&p=D&st=2016-11-12&i=p87957153613&a=616313191&r=1535936655463"><img src="https://d.stockcharts.com/img/articles/2018/09/15359366586221601051239.png"></a></p><p>Commodities wiggled this week. It wasn't very exciting to watch but it still suggests paying attention. Crude oil closed above the 50 day moving average, but some corresponding ETF's didn't rally with oil. XOP in the bottom panel traded sideways all week and closed marginally above the 50 day ma. While oil had a nice uptrend, XLE actually closed slightly lower than last week. I still like the oil related trade setup here, but the tepid performance suggests watching closely for a better entry. This week didn't really motivate the buyers.</p>
<p><a href="/h-sc/ui?s=%24BPENER&p=D&st=2016-11-12&i=p87957153613&a=616313191&r=1535936655463"><img src="https://d.stockcharts.com/img/articles/2018/09/15359366586221601051239.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/09/just-a-wiggle-in-commodities-2018-08-31-video.html">Continue reading "Just A Wiggle In Commodities 2018-08-31 Video" »</a></p>Commodities Try To Break Trend Lines 2018-08-24 VideoGreg Schnelltag:stockcharts.com,2018-08-27:post-144802020-01-06T08:01:08Z2018-08-27T06:00:00Z<p>Breadth has improved considerably in the last 8 days. This has been a very important change. While some analysts have been bullish throughout the months of July and August, I was very concerned with the lack of new highs and the weakness in the Advance Decline lines. These breadth indicators have had a big bullish push.</p>
<p><a href="/h-sc/ui?s=%24NAAD&p=D&yr=1&mn=8&dy=0&i=p84419248520&a=614804613&r=1535345726429"><img src="https://d.stockcharts.com/img/articles/2018/08/15353457275401608004684.png"></a></p><p>Breadth has improved considerably in the last 8 days. This has been a very important change. While some analysts have been bullish throughout the months of July and August, I was very concerned with the lack of new highs and the weakness in the Advance Decline lines. These breadth indicators have had a big bullish push.</p>
<p><a href="/h-sc/ui?s=%24NAAD&p=D&yr=1&mn=8&dy=0&i=p84419248520&a=614804613&r=1535345726429"><img src="https://d.stockcharts.com/img/articles/2018/08/15353457275401608004684.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/08/commodities-try-to-break-trend-lines-2018-08-24-video.html">Continue reading "Commodities Try To Break Trend Lines 2018-08-24 Video" »</a></p>Commodities Struggle 2018-08-20 VideoGreg Schnelltag:stockcharts.com,2018-08-21:post-144752020-01-06T08:01:07Z2018-08-21T19:25:58Z<p>While the Commodity markets were deeply oversold, the USD hit a 70 RSI on both Daily and Weekly charts. Perhaps this will spur a small bounce.</p>
<p>The overall markets are aligning very defensively as the $SPX tests prior highs. While it means some sectors are still working, other former leaders are struggling. The Perf Chart below is for the last 22 days relative to the $SPX.</p>
<p><img src="https://d.stockcharts.com/img/articles/2018/08/1534879149475641866492.png"></p><p>While the Commodity markets were deeply oversold, the USD hit a 70 RSI on both Daily and Weekly charts. Perhaps this will spur a small bounce.</p>
<p>The overall markets are aligning very defensively as the $SPX tests prior highs. While it means some sectors are still working, other former leaders are struggling. The Perf Chart below is for the last 22 days relative to the $SPX.</p>
<p><img src="https://d.stockcharts.com/img/articles/2018/08/1534879149475641866492.png"></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/08/commodities-struggle-2018-08-20-video.html">Continue reading "Commodities Struggle 2018-08-20 Video" »</a></p>A Ballistic Move In The Dollar 2018-08-12 VideoGreg Schnelltag:stockcharts.com,2018-08-12:post-143952020-01-06T08:01:04Z2018-08-12T18:00:00Z<p>It seems like most weeks I start this article with a discussion of the dollar. This week will be no exception. The Dollar subtly broke above resistance. Actually, no, that is not what happened. The dollar popped like a champagne cork above resistance and there was nothing subtle about the move. Currency charts all over the world snapped through meaningful levels. A few currencies stayed in their ranges but most lost support. The biggest thing on the chart is the weekly RSI kicking out a bull market signal. The PPO broke out of the down-sloping trend in momentum a while ago, but the RSI doesn't reach 70 without a lot of momentum. This week it did. I will trade based on a bullish US Dollar until the RSI drops back to 30. After the brief break in the 6-year bull market trend, it has resumed.</p>
<p><a href="/h-sc/ui?s=%24USD&p=W&st=2013-08-23&i=p92685848783&a=611775442&r=1534086630740"><img src="https://d.stockcharts.com/img/articles/2018/08/15340866329541093607122.png"></a></p><p>It seems like most weeks I start this article with a discussion of the dollar. This week will be no exception. The Dollar subtly broke above resistance. Actually, no, that is not what happened. The dollar popped like a champagne cork above resistance and there was nothing subtle about the move. Currency charts all over the world snapped through meaningful levels. A few currencies stayed in their ranges but most lost support. The biggest thing on the chart is the weekly RSI kicking out a bull market signal. The PPO broke out of the down-sloping trend in momentum a while ago, but the RSI doesn't reach 70 without a lot of momentum. This week it did. I will trade based on a bullish US Dollar until the RSI drops back to 30. After the brief break in the 6-year bull market trend, it has resumed.</p>
<p><a href="/h-sc/ui?s=%24USD&p=W&st=2013-08-23&i=p92685848783&a=611775442&r=1534086630740"><img src="https://d.stockcharts.com/img/articles/2018/08/15340866329541093607122.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/08/a-ballistic-move-in-the-dollar-2018-08-12-video.html">Continue reading "A Ballistic Move In The Dollar 2018-08-12 Video" »</a></p>Commodities Trade Sideways 2018-08-05 VideoGreg Schnelltag:stockcharts.com,2018-08-06:post-144792020-01-06T08:01:08Z2018-08-06T17:10:00Z<p>Most of the commodities traded within their range of the last month. Wheat and corn were the exceptions. The $USD pushed to its highest weekly close but still trading in the range around 95. The energy markets all traded below their 50 day moving average to close out the week. Industrial metals had a mixed week but no real price direction of significance.</p>
<p><a href="/h-sc/ui?s=%24WTIC&p=W&yr=2&mn=0&dy=0&i=p56739937245&a=610589246&r=1533570107792"><img src="https://d.stockcharts.com/img/articles/2018/08/15335701105431516392879.png"></a></p><p>Most of the commodities traded within their range of the last month. Wheat and corn were the exceptions. The $USD pushed to its highest weekly close but still trading in the range around 95. The energy markets all traded below their 50 day moving average to close out the week. Industrial metals had a mixed week but no real price direction of significance.</p>
<p><a href="/h-sc/ui?s=%24WTIC&p=W&yr=2&mn=0&dy=0&i=p56739937245&a=610589246&r=1533570107792"><img src="https://d.stockcharts.com/img/articles/2018/08/15335701105431516392879.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/08/commodities-trade-sideways-2018-08-05-video.html">Continue reading "Commodities Trade Sideways 2018-08-05 Video" »</a></p>The Indexes Get Bruised 2018-07-27 VideoGreg Schnelltag:stockcharts.com,2018-07-29:post-145872020-01-06T08:01:16Z2018-07-29T03:27:50Z<p>With the rest of the world doing pretty well, the North American market struggled for the week. The $SPX was up slightly but the Nasdaq and the Russell were down. The Canadian market was also lower.</p>
<p><img src="https://d.stockcharts.com/img/articles/2018/07/1532833347565596357335.png"></p><p>With the rest of the world doing pretty well, the North American market struggled for the week. The $SPX was up slightly but the Nasdaq and the Russell were down. The Canadian market was also lower.</p>
<p><img src="https://d.stockcharts.com/img/articles/2018/07/1532833347565596357335.png"></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/07/the-indexes-get-bruised-2018-07-27-video.html">Continue reading "The Indexes Get Bruised 2018-07-27 Video" »</a></p>Wild Week Of Reversals 2018-07-20 VideoGreg Schnelltag:stockcharts.com,2018-07-23:post-146172020-01-06T08:01:19Z2018-07-23T04:15:02Z<p>This week saw most of the commodities continue lower. Wheat actually moved above the 10 Week moving average. All of the rest of the commodities are below. It is not very often everything is this beaten down.</p>
<p>The $SPX was flat for the week. The US dollar dropped hard on Friday back into the middle of the two month trading range. As well the bond prices fell away from resistance pushing the long end of the yield curve higher. Gold has some nice buying wicks for the last three days in one of the most unloved areas of the market. It is already up $20 off the lows of Wednesday.</p>
<p>Let's start with Gold daily. First of all, we are looking for some place to expect support for Gold to kick in. Looking at the chart below, the up-sloping trend line on GLD did not hold. There is a great reason to expect $115 to hold as it has been a major support resistance level on the chart for a while. </p>
<p><a href="/h-sc/ui?s=GLD&p=D&st=2015-06-04&i=p56174560997&a=607769913&r=1532314834264"><img src="https://d.stockcharts.com/img/articles/2018/07/1532314836115490328131.png"></a></p><p>This week saw most of the commodities continue lower. Wheat actually moved above the 10 Week moving average. All of the rest of the commodities are below. It is not very often everything is this beaten down.</p>
<p>The $SPX was flat for the week. The US dollar dropped hard on Friday back into the middle of the two month trading range. As well the bond prices fell away from resistance pushing the long end of the yield curve higher. Gold has some nice buying wicks for the last three days in one of the most unloved areas of the market. It is already up $20 off the lows of Wednesday.</p>
<p>Let's start with Gold daily. First of all, we are looking for some place to expect support for Gold to kick in. Looking at the chart below, the up-sloping trend line on GLD did not hold. There is a great reason to expect $115 to hold as it has been a major support resistance level on the chart for a while. </p>
<p><a href="/h-sc/ui?s=GLD&p=D&st=2015-06-04&i=p56174560997&a=607769913&r=1532314834264"><img src="https://d.stockcharts.com/img/articles/2018/07/1532314836115490328131.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/07/wild-week-of-reversals-2018-07-20-video.html">Continue reading "Wild Week Of Reversals 2018-07-20 Video" »</a></p>Commodities Get Smoked 2018-07-13 VideoGreg Schnelltag:stockcharts.com,2018-07-15:post-144692020-01-06T08:01:07Z2018-07-15T21:45:00Z<p>Commodities took it on the chin again this week, but the market messages could not be more confusing. While commodities fell hard, all the commodity countries made higher highs and higher lows on the week. The only commodity above the 10 WMA is oil. Copper fell again for the fifth week in a row. Gold and Silver stocks fell hard as the Yen broke its trend line.</p>
<p>Let's get into the charts. Here is crude oil. It is still holding above the 10 week moving average. A small signal is a rollover of the PPO on the daily chart.</p>
<p><a href="/h-sc/ui?s=%24WTIC&p=D&st=2016-11-05&i=p19500327894&a=606338835&r=1531684531221"><img src="https://d.stockcharts.com/img/articles/2018/07/1531684533786267473110.png"></a></p><p>Commodities took it on the chin again this week, but the market messages could not be more confusing. While commodities fell hard, all the commodity countries made higher highs and higher lows on the week. The only commodity above the 10 WMA is oil. Copper fell again for the fifth week in a row. Gold and Silver stocks fell hard as the Yen broke its trend line.</p>
<p>Let's get into the charts. Here is crude oil. It is still holding above the 10 week moving average. A small signal is a rollover of the PPO on the daily chart.</p>
<p><a href="/h-sc/ui?s=%24WTIC&p=D&st=2016-11-05&i=p19500327894&a=606338835&r=1531684531221"><img src="https://d.stockcharts.com/img/articles/2018/07/1531684533786267473110.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/07/commodities-get-smoked-2018-07-13-video.html">Continue reading "Commodities Get Smoked 2018-07-13 Video" »</a></p>Does The US Dollar Complete The Rollover? 2018-07-06 VideoGreg Schnelltag:stockcharts.com,2018-07-09:post-144942020-01-06T08:01:09Z2018-07-09T13:16:00Z<p>This week's Commodities Countdown video is jam packed with changes. Does the US Dollar complete the rollover? Do the bonds break through resistance on the price and momentum charts? The next few weeks are really important for the bond markets based on my work. Most of the Commodities moved under or are still under the 10 week moving average. The 800 pound gorilla exception to that is oil. Crude oil makes up 23% of the $CRB Index. </p>
<p>Let's start with the Dollar. With lots of negative divergence the Dollar looks set to break lower. This should be a meaningful move in the dollar that lasts a few months if the bigger picture charts have the momentum right. </p>
<p><a href="/h-sc/ui?s=%24USD&p=D&yr=1&mn=10&dy=0&i=p24593106541&a=605108521&r=1531109354804"><img src="https://d.stockcharts.com/img/articles/2018/07/15311093604201735860229.png"></a></p><p>This week's Commodities Countdown video is jam packed with changes. Does the US Dollar complete the rollover? Do the bonds break through resistance on the price and momentum charts? The next few weeks are really important for the bond markets based on my work. Most of the Commodities moved under or are still under the 10 week moving average. The 800 pound gorilla exception to that is oil. Crude oil makes up 23% of the $CRB Index. </p>
<p>Let's start with the Dollar. With lots of negative divergence the Dollar looks set to break lower. This should be a meaningful move in the dollar that lasts a few months if the bigger picture charts have the momentum right. </p>
<p><a href="/h-sc/ui?s=%24USD&p=D&yr=1&mn=10&dy=0&i=p24593106541&a=605108521&r=1531109354804"><img src="https://d.stockcharts.com/img/articles/2018/07/15311093604201735860229.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/07/does-the-us-dollar-complete-the-rollover-2018-07-06-video.html">Continue reading "Does The US Dollar Complete The Rollover? 2018-07-06 Video" »</a></p>Oil Surges to Fresh Highs 2018-06-29 VideoGreg Schnelltag:stockcharts.com,2018-07-02:post-145502020-01-06T08:01:13Z2018-07-02T04:14:45Z<p>In another bizarre week for Commodities, the excitement continues. The Industrial metals continued to fall, Soybean and Wheat also let go. Oil, Gasoline, and Heating Oil all rallied. Gold dropped and finally had a mini rally on Friday. Gold mining stocks soared relative to Gold which continues to be a trade idea I like. Notice the surge in the top panel. This is the ratio of Gold Miners to Gold. When it surges higher, the Gold mining stocks are outperforming which is usually a great place to get bullish. <a href="/h-sc/ui?s=GDX%3AGLD&p=D&st=2017-01-02&en=2018-07-01&i=p07435800094&a=591581139&r=1530503414073"><img src="https://d.stockcharts.com/img/articles/2018/07/1530503416067451342313.png"></a></p><p>In another bizarre week for Commodities, the excitement continues. The Industrial metals continued to fall, Soybean and Wheat also let go. Oil, Gasoline, and Heating Oil all rallied. Gold dropped and finally had a mini rally on Friday. Gold mining stocks soared relative to Gold which continues to be a trade idea I like. Notice the surge in the top panel. This is the ratio of Gold Miners to Gold. When it surges higher, the Gold mining stocks are outperforming which is usually a great place to get bullish. <a href="/h-sc/ui?s=GDX%3AGLD&p=D&st=2017-01-02&en=2018-07-01&i=p07435800094&a=591581139&r=1530503414073"><img src="https://d.stockcharts.com/img/articles/2018/07/1530503416067451342313.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/07/oil-surges-to-fresh-highs-2018-06-29-video-.html">Continue reading "Oil Surges to Fresh Highs 2018-06-29 Video" »</a></p>Can Commodities Roar Back ? 2018-06-22 VideoGreg Schnelltag:stockcharts.com,2018-06-24:post-144072020-01-06T08:01:05Z2018-06-24T03:59:54Z<p>What a wild week for Commodities and Currencies! It has been a battle for about a month and last week the entire commodity complex was under pressure as the US Dollar moved back toward 94. This week it looks like the US Dollar is rolling over at resistance which sent some commodity related stocks surging.</p>
<p><a href="/h-sc/ui?s=%24USD&p=D&yr=1&mn=10&dy=0&i=p62167428036&a=602510598&r=1529809308347"><img src="https://d.stockcharts.com/img/articles/2018/06/1529809314392894118021.png"></a></p><p>What a wild week for Commodities and Currencies! It has been a battle for about a month and last week the entire commodity complex was under pressure as the US Dollar moved back toward 94. This week it looks like the US Dollar is rolling over at resistance which sent some commodity related stocks surging.</p>
<p><a href="/h-sc/ui?s=%24USD&p=D&yr=1&mn=10&dy=0&i=p62167428036&a=602510598&r=1529809308347"><img src="https://d.stockcharts.com/img/articles/2018/06/1529809314392894118021.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/06/can-commodities-roar-back--2018-06-22-video.html">Continue reading "Can Commodities Roar Back ? 2018-06-22 Video" »</a></p>Commodities Get Smoked 2018-06-15 - VideoGreg Schnelltag:stockcharts.com,2018-06-17:post-144682020-01-06T08:01:07Z2018-06-17T15:35:51Z<p>Well, after the big buildup of the last two recordings, we saw the dramatic climax to the big buildup in tension. Oil, Gasoline, Heating oil, Copper, Steel, Aluminum, Rare earth metals, Coal, Natural Gas stocks, Gold and Silver all had a bad week. With the G7 meeting, the Singapore summit, another Fed meeting on Wednesday, Mario Draghi speaking on Thursday and Quadruple Witching Options Expiration on Friday, the week was loaded for drama. While the indexes were moderate for the week, the commodities got smoked. </p>
<p>Oil wasn't too bad, but the stocks around oil, spilled!</p>
<p><a href="/h-sc/ui?s=%24WTIC&p=W&yr=2&mn=1&dy=0&i=p51998764024&a=601210849&r=1529246365210"><img src="https://d.stockcharts.com/img/articles/2018/06/15292463770001442129298.png"></a></p><p>Well, after the big buildup of the last two recordings, we saw the dramatic climax to the big buildup in tension. Oil, Gasoline, Heating oil, Copper, Steel, Aluminum, Rare earth metals, Coal, Natural Gas stocks, Gold and Silver all had a bad week. With the G7 meeting, the Singapore summit, another Fed meeting on Wednesday, Mario Draghi speaking on Thursday and Quadruple Witching Options Expiration on Friday, the week was loaded for drama. While the indexes were moderate for the week, the commodities got smoked. </p>
<p>Oil wasn't too bad, but the stocks around oil, spilled!</p>
<p><a href="/h-sc/ui?s=%24WTIC&p=W&yr=2&mn=1&dy=0&i=p51998764024&a=601210849&r=1529246365210"><img src="https://d.stockcharts.com/img/articles/2018/06/15292463770001442129298.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/06/commodities-get-smoked-2018-06-15---video.html">Continue reading "Commodities Get Smoked 2018-06-15 - Video" »</a></p>Big Week For Commodities 2018-06-08Greg Schnelltag:stockcharts.com,2018-06-11:post-144022020-01-06T08:01:05Z2018-06-11T17:39:04Z<p>Well, the tension in the commodities space couldn't be much higher. Oil has pulled back 10%, Natgas can't get out of its own way. Gold continues to do nothing, Copper exploded higher, rare earth metals broke lower, Silver broke a trend line, Soybean and Corn dropped. What a mixed basket. </p>
<p>A look at the USD is always important and this week, it looks like it is trying to roll over. The MACD is right at zero so this is a very important point for the dollar. A break higher here, suggests a return of the $USD bull market. A break down here pretty much marks the final high on a big negative momentum event with the MACD going below zero.</p>
<p><a href="/h-sc/ui?s=%24USD&p=W&yr=3&mn=6&dy=0&i=p25221491438&a=571282616&r=1528736631181"><img src="https://d.stockcharts.com/img/articles/2018/06/15287366453291081428963.png"></a></p><p>Well, the tension in the commodities space couldn't be much higher. Oil has pulled back 10%, Natgas can't get out of its own way. Gold continues to do nothing, Copper exploded higher, rare earth metals broke lower, Silver broke a trend line, Soybean and Corn dropped. What a mixed basket. </p>
<p>A look at the USD is always important and this week, it looks like it is trying to roll over. The MACD is right at zero so this is a very important point for the dollar. A break higher here, suggests a return of the $USD bull market. A break down here pretty much marks the final high on a big negative momentum event with the MACD going below zero.</p>
<p><a href="/h-sc/ui?s=%24USD&p=W&yr=3&mn=6&dy=0&i=p25221491438&a=571282616&r=1528736631181"><img src="https://d.stockcharts.com/img/articles/2018/06/15287366453291081428963.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/06/big-week-for-commodities-2018-06-08.html">Continue reading "Big Week For Commodities 2018-06-08" »</a></p>Sector Reversals In US MarketsGreg Schnelltag:stockcharts.com,2018-05-30:post-145592020-01-06T08:01:14Z2018-05-30T15:18:00Z<p>The wobble in the market on Tuesday was quite significant. This appeared to start last week with the reversal in oil and bonds. Crude is hovering around the 50 day moving average. You can see on the chart below, the 50 MA is pretty important. Watch for this low to hold. On the video I talked about the $66.66 level from January to see if support / resistance would hold. Take note that the related stock ETF's are still well above the 50 MA. </p>
<p><a href="/h-sc/ui?s=%24WTIC&p=D&yr=1&mn=1&dy=0&i=p34488437777&a=575183936&r=1527688551092"><img src="https://d.stockcharts.com/img/articles/2018/05/15276885613991247526117.png"></a></p><p>The wobble in the market on Tuesday was quite significant. This appeared to start last week with the reversal in oil and bonds. Crude is hovering around the 50 day moving average. You can see on the chart below, the 50 MA is pretty important. Watch for this low to hold. On the video I talked about the $66.66 level from January to see if support / resistance would hold. Take note that the related stock ETF's are still well above the 50 MA. </p>
<p><a href="/h-sc/ui?s=%24WTIC&p=D&yr=1&mn=1&dy=0&i=p34488437777&a=575183936&r=1527688551092"><img src="https://d.stockcharts.com/img/articles/2018/05/15276885613991247526117.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/05/sector-reversals-in-us-markets.html">Continue reading "Sector Reversals In US Markets" »</a></p>Commodity Volatility 2018-05-18 VideoGreg Schnelltag:stockcharts.com,2018-05-21:post-144872020-01-06T08:01:08Z2018-05-21T16:38:29Z<p>I posted an additional article regarding this weeks video. This is a link specific to the video. The US Dollar is working real hard against the commodity up trend, but some of the commodities cannot be suppressed. Oil, Natural Gas, Heating Oil, Gasoline, and KOL are all soaring. </p>
<hr>
<p>I mentioned a few weeks ago that the marijuana stocks were starting to soar. Jim Cramer interviewed the Canopy Growth Corporation CEO Friday and that sent the whole industry group surging. The chart shape is great so I would look for this trend to continue into the summer. Below is the Canadian listing for the stock, but it will also be trading on the NYSE soon. The USA listing is OTC for Canopy Growth. Ticker symbol TWMJF. </p>
<p><a href="/h-sc/ui?s=WEED.TO&p=W&yr=2&mn=0&dy=0&i=p16897396905&a=595711846&r=1526919935013"><img src="https://d.stockcharts.com/img/articles/2018/05/1526919949466811264077.png"></a></p><p>I posted an additional article regarding this weeks video. This is a link specific to the video. The US Dollar is working real hard against the commodity up trend, but some of the commodities cannot be suppressed. Oil, Natural Gas, Heating Oil, Gasoline, and KOL are all soaring. </p>
<hr>
<p>I mentioned a few weeks ago that the marijuana stocks were starting to soar. Jim Cramer interviewed the Canopy Growth Corporation CEO Friday and that sent the whole industry group surging. The chart shape is great so I would look for this trend to continue into the summer. Below is the Canadian listing for the stock, but it will also be trading on the NYSE soon. The USA listing is OTC for Canopy Growth. Ticker symbol TWMJF. </p>
<p><a href="/h-sc/ui?s=WEED.TO&p=W&yr=2&mn=0&dy=0&i=p16897396905&a=595711846&r=1526919935013"><img src="https://d.stockcharts.com/img/articles/2018/05/1526919949466811264077.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/05/commodity-volatility-2018-05-18-video.html">Continue reading "Commodity Volatility 2018-05-18 Video" »</a></p>The Commodity Market Pressures Heat UpGreg Schnelltag:stockcharts.com,2018-05-21:post-145772020-01-06T08:01:15Z2018-05-21T07:15:55Z<p>Well, another challenging week for Commodities investors. A sudden surge in the $USD early in the week sent gold traders reeling and industrial metals trading pondering the recent breakouts.</p>
<p>I have shown the UUP where you can see the large gap early in the week. As the Dollar approaches resistance, this week will be filled with some volatility.</p>
<p><a href="/h-sc/ui?s=UUP&p=D&yr=1&mn=0&dy=0&i=p09704383844&a=595650357&r=1526885606898"><img src="https://d.stockcharts.com/img/articles/2018/05/1526885612096993253669.png"></a></p><p>Well, another challenging week for Commodities investors. A sudden surge in the $USD early in the week sent gold traders reeling and industrial metals trading pondering the recent breakouts.</p>
<p>I have shown the UUP where you can see the large gap early in the week. As the Dollar approaches resistance, this week will be filled with some volatility.</p>
<p><a href="/h-sc/ui?s=UUP&p=D&yr=1&mn=0&dy=0&i=p09704383844&a=595650357&r=1526885606898"><img src="https://d.stockcharts.com/img/articles/2018/05/1526885612096993253669.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/05/the-commodity-market-pressures-heat-up.html">Continue reading "The Commodity Market Pressures Heat Up" »</a></p>Battle Royale Sets Up For Commodities 2018-05-11Greg Schnelltag:stockcharts.com,2018-05-14:post-144002020-01-06T08:01:05Z2018-05-14T05:01:00Z<ul>
<li>Metals and Metal Miners surge</li>
<li>Oil Pops, oil stocks have a gusher week</li>
<li>Copper, Lithium, Rare Earth Metals, Steel all surge</li>
<li>Currencies struggle for trend direction</li>
<li>Marijuana stocks surge</li>
</ul>
<p>It was a wild and woolly week in Commodityville! Oil rocketed above $70 and the oil stocks price action went vertical. The humdrum sleeper Exxon shot 6.7% which is the biggest positive move on the chart.</p>
<p><a href="/h-sc/ui?s=XOM&p=W&yr=2&mn=0&dy=0&i=p84735733858&a=594278915&r=1526270995827"><img src="https://d.stockcharts.com/img/articles/2018/05/15262709986651547018126.png"></a></p><ul>
<li>Metals and Metal Miners surge</li>
<li>Oil Pops, oil stocks have a gusher week</li>
<li>Copper, Lithium, Rare Earth Metals, Steel all surge</li>
<li>Currencies struggle for trend direction</li>
<li>Marijuana stocks surge</li>
</ul>
<p>It was a wild and woolly week in Commodityville! Oil rocketed above $70 and the oil stocks price action went vertical. The humdrum sleeper Exxon shot 6.7% which is the biggest positive move on the chart.</p>
<p><a href="/h-sc/ui?s=XOM&p=W&yr=2&mn=0&dy=0&i=p84735733858&a=594278915&r=1526270995827"><img src="https://d.stockcharts.com/img/articles/2018/05/15262709986651547018126.png"></a></p><p class="entry-more-link"><a href="https://stockcharts.com/articles/commodities/2018/05/battle-royale-sets-up-for-commodities-2018-05-11.html">Continue reading "Battle Royale Sets Up For Commodities 2018-05-11" »</a></p>