Wednesday, December 17, 2014

Commodities Report: Daily Charts

Agriculture: DBA
  • EMA(13) is still tracking below the EMA(34)
  • Weekly chart is not looking strong and appears it has further to fall
  • DBA still listed as neutral.

Aluminum: JJU
  • Another rising support for this commodity which should be found at $18.40. 
  • EMA's bearishly crossing over with EMA(13) below EMA(34), both of which are now below MA(144) on the daily chart.
  • JJU has moved below a diagonal long term support line.
  • A sell should have been placed on the weekly chart about three weeks ago after coming into contact with upper resistance at about $21.25. EMA(17) imminently about to move below EMA(43).
  • JJU is being listed as short.

Coal: KOL
  • Possible bottom forming on daily charts at $14.20.
  • On the weekly chart a sell/short was issued four weeks ago and that listing has not changed.
  • KOL is listed as a short.

Coffee: JO
  • Coffee is the midst of breaking down, support broke at $32.00 today on the daily chart.
  • Watch support at $30.25 on the weekly chart but it doesn't look like it's going to hold.
  • JO is listed as a short.

Commodities: DBC
  • Commodities are currently in a meltdown. A sell signal on the weekly chart was issued back in August and that listing has not changed.
  • I have no idea where the bottom for this is going to come. Two closes above $18.75 today and yesterday signals another attempt at a bottom.
  • DBC is listed as a short.

Copper: JJC
  • We are still above $34.10 on the daily chart so perhaps this will hold.
  • New diagonal support line put in around $32.00 on the weekly chart.
  • JJC listed as short.

Corn: CORN
  • EMA's are bullishly configured on the daily chart and above the MA(144). 
  • I want to see two convincing closes above the resistance line at $27.00 on the weekly chart or the EMA(17) getting above the EMA(21).
  • CORN is listed as a buy.

Cotton: BAL
  • Hasn't moved below $40.00 which is a sign of support. EMA(13) imminently able to move across EMA(34) on the daily chart.
  • Listed as a strong buy.

Crude Oil: USO
  • $BPENER index is below 20 meaning this thing horribly oversold.
  • A short was listed back on November 10th and that listing has not changed.

Gold: GLD
  • I'm smelling fear in the market. Precious metals are down and the U.S. dollar is up.  
  • EMA(13) moving below EMA(34) on the daily chart.
  • On the daily chart watch for resistance at $120.00.
  • Gold is a short.

Lithium: LIT
  • Lithium was listed as a short on November 17th and it remains unchanged.

Livestock: COW
  • On the weekly chart EMA(17) moving below EMA(21). 
  • Support at $28.40 on the daily chart.
  • Chart is not looking happy and I would say that it's a short.

Natural Gas: UNG
  • StochRSI is in the oversold position but KST is still down sharply on the daily chart.  
  • EMA(4) and EMA(9) are finally converging for a move up.
  • Natural gas was listed as a neutral.

Palladium: PALL
  • Daily chart looks like a bearish flag.
  • Breakdown happened today with a fall towards $71.00.
  • Palladium is listed as a short.

Platinum: PPLT
  • The daily chart is showing a bearish deviation of the EMA(13) away from the EMA(34). Possible bottom at $114.50. 
  • EMA(4) moved below EMA(9). 
  • Platinum is being changed to neutral.

Silver: SLV
  • Boundaries were shown $16.00 and $14.60 and silver is beginning to show some very positive movements. 
  • Silver is a buy at $14.60 to $16.00.

Soy Bean: SOYB
  • Support at $19.00.
  • Still not out of the danger zone yet on the daily chart as a consolidation pattern has developed. EMA(13) is imminently about to cross below the EMA(34). Support at around $20.25.
  • Today EMA(4) moved below EMA(9).
  • Soy is currently listed as a neutral.

Steel: SLX 
  • On the weekly chart it has met support at $34.50. Indicators are flashing a double bottom. 
  • On the daily chart the EMA(4) and EMA(9) are quite divergent signalling a move upwards.  
  • Steel was listed as neutral.

Sugar: SGG
  • A series of lower highs has taken place. My optimism in sugar has been misplaced.
  • EMA(13) is still below EMA(34) on the daily chart.
  • Sugar is listed as a short.

Timber: CUT
  • Timber is still a short all the way to $22.80 to $22.50

Uranium: URA
  • Uranium is a short all the way $11.00

Wheat: WEAT
  • Wheat was listed as a buy on November 17th and that listing as not changed. 
  • Two closes above $13.20 on the daily chart signalling that this breakout is genuine. 


Jakob Richardson © 2014