Euro: A Close Call

2021-09-20T14:04:37-05:00September 20th, 2021|Charts|

I've been keeping a close eye on the US dollar index and euro Monday, with both in position to possibly establish spike reversals at the close. In the case of the USDX, a close below Friday's settlement of 93.19 would [...]

CFTC CoT: Lean Hogs

2021-09-20T09:22:18-05:00September 20th, 2021|Charts, Report Commentary|

The weekly CFTC Commitments of Traders report (legacy, futures only) showed noncommercial traders decreased their net-long lean hog futures position (blue line) by 9,121 contracts, putting it at 67,234 contracts as of Tuesday, September 14. Included in this was a [...]

Crude Oil: A Weaker King

2021-08-16T08:25:39-05:00August 16th, 2021|Charts|

Though this continuous weekly chart for the spot-month crude oil market hasn't changed much from last Monday (see "Crude Oil: From Russia With Love"), the $2.33 (3.5%) selloff to start the week stands out to me this morning. Yes, the [...]

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 [...]

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