Crude Oil: Forward Ho!

2021-07-01T07:29:38-05:00July 1st, 2021|Charts|

As I mentioned in Morning Commentary, OPEC and OPEC+ are meeting Thursday to discuss and decide on possible crude oil output increases. The general consensus, as of this morning, is any output hikes would be "tactical", as the Cartel looks [...]

Euro Waves

2021-06-18T06:59:34-05:00June 18th, 2021|Charts|

As the US dollar index rallied Thursday, the euro was on the flip side of the coin (literally) as it extended the ongoing secondary (intermediate-term) downtrend on its weekly chart. This week's move to a new 4-week low confirms the [...]

US Dollar Index: Going Green

2021-06-16T16:41:05-05:00June 16th, 2021|Charts|

The US dollar index (USDX) liked what it heard in Wednesday's Federal Open Market Committee meeting announcement, particularly the parts about the exceptions for increased inflations and projection for more than one interest rate increase by 2023. Yes, that's a [...]

Coffee: Looking Frothy

2021-05-27T07:21:24-05:00May 27th, 2021|Charts|

The last year has seen discussion about the commodity sector dominated by grains and oilseeds, lean hogs, crude oil, copper, and most recently lumber. For the most part, the  coffee market has flown under the radar despite posting a strong [...]

July Corn: Crunch Time

2021-05-12T15:15:10-05:00May 12th, 2021|Charts|

I had a gentleman ask about July corn following Wednesday's generally lackluster session. Let's take a look at it from both points of view: Fundamentally, old-crop corn remains bullish. National average basis remains strong, with Tuesday's calculation of the cmdty [...]

June Gold: Small Moves

2021-04-30T08:34:28-05:00April 30th, 2021|Charts|

I just sent in my weekly Kitco Gold Poll vote on direction of the market next week, and based on what I see on this daily chart for the June contract, I still see some downside potential. I still classify [...]

Dumping the Dollar

2021-04-19T08:19:06-05:00April 19th, 2021|Charts|

As I mentioned in Monday's Morning Commentary, the US dollar index made a loud crashing sound as it fell through previous lows and technical targets overnight. The greenback hit a low of 91.03 early Monday morning, down 0.50 from last [...]

Euro Looking Tired

2021-04-15T15:18:22-05:00April 15th, 2021|Charts|

At first glance the euro looks like it established a bearish spike reversal on its daily chart Thursday, coinciding with a bearish crossover by daily stochastics above the overbought level of 80%. This combination tends to both signal and confirm [...]

A Rocket Made of Lumber

2021-04-13T08:26:49-05:00April 13th, 2021|Charts|

I have some friends in the lumber industry, and after mentioning the rocketing market in Monday's Afternoon Commentary I wanted to follow-up with a look at the continuous weekly chart for the nearby futures contract. Monday saw May futures lock [...]

The Euro: Talking Waves

2021-04-08T07:02:42-05:00April 8th, 2021|Charts|

After I mentioned its slightly lower start to the day in Morning Commentary, the euro has posted a modest rally through early Thursday morning. Note Wednesday's high of 1.19144 was a test of the initial minor (short-term) upside target of [...]

Crude Oil: No July Fireworks

2021-03-23T15:28:12-05:00March 23rd, 2021|Charts|

As I mentioned in this past weekend's Weekly Analysis, the July crude oil contract had not yet established confirmation of a new secondary (intermediate-term) downtrend on its weekly chart. However, it did just that during Tuesday's sharp selloff as it [...]

Euro: Minor Turn

2021-03-10T06:54:34-06:00March 10th, 2021|Charts|

As I mentioned in Wednesday's Morning Commentary, the US dollar index looks to have established a bearish 2-day reversal/spike reversal on its daily chart, confirming its minor (short-term) trend is turning down. This pattern confirms the bearish crossover by daily [...]

May Corn: May in March

2021-03-06T08:20:59-06:00March 6th, 2021|Charts|

As I mentioned in Friday afternoon's Chart of the Day, "(GF) Go Figure", the August feeder cattle contract posted a new 4-week high and contract high last week indicating it could find more room to the upside over the coming [...]

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