Commodities Countdown

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).

Latest Posts

Commodities Countdown

Commodities Are Slipping 2018-03-15 Video

by Greg Schnell

  Indexes and breadth video Currencies and bonds video Commodities  video The market suffered a tough down day to start the week. While this may feel like an isolated one-off incident, the momentum indicators were kicking up plenty of divergences on the weekly chart. Shown below is a daily chart including Monday's close. The MACD is rolling over near the zero level so this is particularly concerning. On a weekly chart, the market does not look as bad for the $SPX yet. The Full Stochastic indicator is Read More 

Commodities Countdown

Currencies Hit Massive Trend Lines 2018-03-15 Video

by Greg Schnell

For the currencies, the $USD has wound sideways for 9 weeks. However, it is a change from downtrend to sideways that is creating pressure on the $USD chart. This chart does not include Monday. The real question is if the Dollar pushes higher here, it will turn the momentum to the upside. If the PPO breaks this downtrend line, I would be more concerned that the dollar is not going to continue the bear market run. Currently there is positive divergence on the chart which also suggests a higher dollar.  There is a lot of information on the Read More 

Commodities Countdown

Looking At The Energy Setup 2018-03-10 Video

by Greg Schnell

Commodities were flat this week, but some of the charts are reaching levels that investors should be stalking new entries. In commodities, I look for commodity related trades that are setting up technically. While the US Dollar can't make up its mind on direction, there may be hope for another run in energy related stocks. It is still early, but there is a compelling chart in my chartlist that has identified the coming low as a great place to look for long positions. I have shown this chart occasionally over the last year, but we are starting to see another set up opportunity in the Read More 

Commodities Countdown

Finding Strong Stocks With Industry Chartlists

by Greg Schnell

Another week where the commodities can't get rolling. Steel was in the news all week with the tariff announcement but the industry group was down 1.5%. Aluminum was part of the tariffs, and was up 4.2%. Gold forgot to rally again.  Coal continues to smoulder with some warm ash, up 2.5%. Perhaps thats on the back of more steel and aluminum processing under the tariffs. Oil and oil services are up 1.3 to 1.5%. Well, that's a little lift, it is not enough to reverse a lot of the technical damage.  The Renewables had a great week up 4%. Read More 

Commodities Countdown

Angst In Commodities Spills Over 2018-03-01 Video

by Greg Schnell

Ag Commodities bounce Gold and Silver struggle Oil drips lower Round 3 of steel tariffs doesn't lift SLX Lithium, Rare Earths, Copper and Aluminum need buyers Video The $CRB struggled to make progress in February. The zoom box shows the $CRB made a lower high and a lower low last month. That is not bullish as it brings into doubt the breakout above 196 we saw in January 2018. While the closing price for the month was significantly improved off the early February lows, it was not what technicians would like to see after a breakout month.  Read More 

Commodities Countdown

Reasons For Optimism In Oil Services

by Greg Schnell

I will be the first to admit that Energy has fallen like a rock in a truck dumping boulders. It has been widespread, unrefined "Sell, Sell, Sell". Perhaps being optimistic on the sector is way too bullish given the chart shape.  You can walk through a few things on the oil services chart below and form your own views.  Unedited with just price data, the chart looks to be making lower highs over the long term. That's bearish. However, with a few indicators and a closer examination of price, this could be a nice entry with a tight stop Read More 

Commodities Countdown

Commodities Tighten The Noose 2018-02-22 Video

by Greg Schnell

US Dollar goes sideways for 5 weeks Oil hovers near the 50 DMA Natural Gas holds $2.60 Gold pulls back Three stocks make up 50% of the S&P 500 bounce Video link inside The big news on the US Dollar continues to be no news. Rather than breaking support and plummeting, the US Dollar continues to trade sideways for 6 weeks after breaking support. The phrase 'hurry up and wait' comes to mind. With a Friday trading day left, watch to see if the dollar can make a higher high. Today's chart has not updated at time of publishing, but it was another small move as part of an inside Read More 

Commodities Countdown

Gold Tries To Breakout 2018-02-15 Video

by Greg Schnell

Gold is trying to breakout again. We have seen this movie multiple times. The big question is the US Dollar.  The five year picture for Gold is even more interesting. What makes the gold trade more compelling is the breakout in the Yen. So that looks pretty good. More in just a little bit lower on this article. I will be on MarketWatchers Live on Wednesday February 21st to cover off this Gold setup as well as discuss the book in more detail. You can follow this link to the Webinars tab on StockCharts.com. This will Read More 

Commodities Countdown

StockCharts For Dummies Book Now Available

by Greg Schnell

The StockCharts for Dummies book is now available wherever books are sold! Here is a link to the video about the new StockCharts for Dummies book! It is now available!   The reviews are coming in. "I have been a Stockcharts member for several years. There are many things I did not know, or now know in more depth. Although I am trained in fundamental analysis, I now feel there is no substitute for the information you can discern about money and how it is moving that technical analysis provides. Volume and Read More 

Commodities Countdown

Commodities Get Crushed 2018-02-08 With Video

by Greg Schnell

Commodities got crushed with the overall market dropping back. The size of the moves in just about everything has surprised everyone. The people who were bearish finally got their pullback convincing them they were right. Part of getting pullbacks right is timeliness. We had noticed some softness as the previous headlines of the videos demonstrated, but sometimes the drop is a long drawn out affair, other times, not so much. I think the current pullback (gulp) qualifies as a not-so-gentle pullback.  In the video I cover off a lot of issues. On the equity indexes, there Read More 

Subscribe to Commodities Countdown to be notified whenever a new post is added to this blog!