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The Gold & Commodities category is a sub-section of Market Analysis that includes charts and commentary associated with precious & industrial metals such as gold, silver, and copper as well as various hard & soft commodities such as oil, gas, wheat, corn, etc…

USO DWTI Price Targets & Suggested Stop-loss

The price targets for the recently posted USO long/DWTI short trade will be T1 at 10.63 (for those only looking for a quick bounce trade), T2 at 10.98 and the current final target of T3 at 11.39. The suggested stop for those targeting T2 or T3 will be on a 60-minute candlestick close below 10.15. [...]

USO DWTI Trade Setup & Entry

USO (Crude Oil ETP) is piercing through the bottom of this 60-minute bullish falling wedge pattern on what is likely to prove to be an over-throw of the wedge followed by a reversal & upside breakout. While I'm on watch for signs of a bullish reversal or possible near-term selling climax for a buy signal [...]

Copper Threatening Breakout Above Resistance

I had a request from member @vim2 for an update on copper. Here's my 10 year weekly chart of $COPPER (spot copper prices). Copper has been gradually moving higher since putting in a divergent low around the beginning of the year & breaking out above this bullish falling wedge pattern shortly afterwards. Prices are currently [...]

Jul 22, 2016 10:11am|Categories: Gold & Commodities|Tags: , |1 Comment

Market Recap 7-20-16 (video)

An recap of the US equity markets, gold & the precious metal mining sector.

USO Crude Oil Update

USO (crude oil ETF) has held on two successive tags of the 10.67 support level with the most recent tag confirming a divergent low (bullish). While an upside break of the pattern could spark a rally, I'm leaning towards another thrust down within the wedge that takes out the recent lows before a meaningful reversal. [...]

Jul 15, 2016 3:12pm|Categories: Gold & Commodities|Tags: , |0 Comments

GDX Gold Mining Stocks Approaching Key L/T Resistance

I've received several inquires for updates on GDX & the gold mining sector recently, including a request for an update on GDX & SLW from member @consultlee in the trading room today. My thoughts on each are below (weekly charts) but I also wanted to pass along the fact that my commentary and analysis for [...]

Jul 13, 2016 1:21pm|Categories: Gold & Commodities|Tags: , , |0 Comments

USO Hits Key Support With Bullish Divergences

I returned home from vacation late last night & I have started the process of catching up on the charts this morning. Market updates, commentary & trade ideas will begin to resume as normal going forward & I should have caught up on all trading room questions & private messages by the end of today. [...]

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