Copper futures are at a pretty interesting spot right now. Several bearish patterns have formed on the weekly chart and sentiment is extremely negative. Yet, price hasn’t broken down and it continues to trade above support. Copper is an important industrial metal used in construction, machinery, electrical equipment and more. Because of its numerous industrial applications, […]
Gold Forming This Ominous Chart Pattern
Gold has had an impressive run this year. It’s up 25.35% over the trailing twelve months, while the S&P 500 is only up 2.59% over the same period. However, several traders and analysts have pointed out that Gold is forming a head and shoulders top on the daily chart. Gold futures are currently down over […]
Chart of the Day – Monday, September 30th, 2019
Today’s Chart of the Day was shared by Greg Rieben (@gregrieben). It’s a daily candlestick chart of Gold futures. Greg points out that Gold has formed a “textbook” head and shoulders pattern. This bearish chart pattern has developed over the past two months. Gold has been on quite the run this year. It’s currently […]
Chart of the Day – Wednesday, September 25th, 2019
Today’s Chart of the Day was shared on Twitter by John Kicklighter (@JohnKicklighter). It’s a daily chart of Crude Oil futures over the past 12-months. The chart emphasizes the roller coaster ride that the commodity has been on recently. Last Monday, Crude Oil had its largest single-day percentage gain in over two decades. Price gapped […]
Chart of the Day – Wednesday, September 18th, 2019
Today’s Chart of the Day was shared on Twitter by Dana Lyons (@JLyonsFundMgmt). It is a line chart of the Thomson Reuters CRB Commodity Index. The Index tracks 19 different commodities including; Crude Oil, Live Cattle, Copper, Soybeans, Lean Hogs, Gold, Corn, Wheat, Cotton and more. The index divides these commodities into four groups: 39% Energy, 34% Agriculture, […]
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