Roundup of recommendations based on the weekly charts:
Natural Gas: UNG
- Agriculture (DBA) is a weak buy. EMA's not appropriately configured but KST is about to cross over.
- Aluminum (JJU) a buy. EMA's are looking good and as long as they hold it's a buy.
- Coal (KOL) is a short. Failure to hold $16.80 will not be a good sign.
- Coffee (JO) is a short. Improved weather in South America will improve flowering for next year's crop.
- Commodities (DBC) is are neutral. The unexpected move by China and the ECB may put a floor beneath commodities which are severely oversold.
- Copper (JJU) is still bottoming, support/speculative buy at $35.90
- Corn (CORN) is a short, support at $22.70 with possibly bottoming pattern
- Cotton (BAL) is a neutral. We already have two hits on the upper resistance line and and a break out looks imminent. Possible bottom forming.
- Crude oil (USO) is a support/speculative buy. A lot of convincing arguments are being made about a turnaround in oil right now. It might still fall a little further but I don't foresee a fall below $28.00.
- Gold (GLD) is bottoming and a buy at anything around $110.00
- Lithium (LIT) is a support/speculative buy, with bottoming pattern at $11.40
- Livestock (COW) is a buy, but watch out at $33.00.
- Natural gas (UNG) is a speculative buy based on the cross over of EMA's. I think a bounce off of the EMA(17) in the next week is most likely.
- Palladium (PALL) is a short
- Platinum (PPLT) is a neutral. I'm curious to see if a bottoming pattern develops.
- Silver (SLV) is a neutral.
- Soy (SOYB) is a buy at anything near $19.50, but a retracement should take place over the next two weeks or so.
- Steel (SLX) is a short
- Sugar (SGG) is a buy with speculative bottom in at $40.00
- Timber (CUT) is a fantastic short at $24.00
- Uranium (URA) is a buy with bottoming pattern in a $11.00
- Wheat (WEAT) is strong buy with possible bottoming pattern at $11.60
Crude Oil: USO
Soy Bean: SOYB
Jakob Richardson © 2014