/SI silver futures broke below & are currently backtesting the 60-min bearish rising wedge pattern that was posted in the trading room yesterday, with a pullback to at least the 16.335 and/or 16.20 likely.
SI 60-min July 25th
Likewise, /GC gold futures also put in a divergent high on the 60-minute chart at last Thursday’s high with gold continuing the choppy consolidation range that it has been in for over a month now. As with silver, the recent divergent high increases the chances of more consolidation and/or downside in the near-term although the longer-term outlook remains constructive at this time.
GC 60-min July 25th
/ZW wheat futures under consideration for another official trade on WEAT (wheat ETN) if they can hold above & start to rally off the 492 support following the recent false break below. 60-minute chart below.
ZW 60-min July 25th
/KC coffee futures appear poised to rally on a break above this downtrend line as they approach the 0.995 support level.
KC 60-min July 25th
Despite the recent (and expected) correction following the tag of T3, JO remains in an uptrend for now, which is simply defined by a security making a series of higher highs & higher lows.
JO daily July 25th
Regarding the stock market, nothing that happens today matters, IMO, as the big earnings reports from GOOGL, AMZN, INTC, SBUX & more after the market close today can & most likey impact how the major stock indexes trade tomorrow.