Natural Gas: UNG
- On the daily chart EMA(13) is still tracking below the EMA(34) and the EMA(4) has moved below the EMA(9) which is a negative sign.
- Not looking good now that it has fallen below long term support of $25.00
- DBA still listed as neutral.
- JJU continues to fall on the daily chart.
- JJU is being listed as short.
- Possible bottom forming on daily and weekly charts at $14.00 to $14.20.
- It's holding well to my descending red channel on the daily chart at support of $14.20. A little relief is possible but this looks poised to fall. I will continue to watch closely.
- KOL is listed as a neutral.
- I'm still listing this as a short regardless of it's recent break. It hasn't been able to break back into the large ascending blue channel.
- This is just a continuation pattern for it's continued fall. A larger descending red channel should appear after this.
- JO is listed as a short.
- The expected reprieve from agricultural stocks and oil prices did not materialize.
- The decline is accelerating.
- DBC is listed as a short.
- New diagonal support line put in around $32.00 on the weekly chart.
- Large declining channel on the daily chart that started in late July is as strong as ever.
- JJC listed as short.
- EMA's are bullishly configured on the daily chart and above the MA(144).
- EMA(13) still above EMA(34) on the daily chart which is bullish.
- My call of a "sell" at the $27.00 resistance level on the weekly chart was wrong and has been followed by two strong closes above.
- CORN is listed as a strong buy.
- I'm backing off of cotton a little since my proposed ascending blue channel has collapsed. EMA(13) has gone back below EMA(34) but still well above support at around $40.00.
- Listed as a short. Apologies for this flip-flop but a declining triangle has emerged.
Crude Oil: USO
- $BPENER index is below 20 meaning this thing horribly oversold. Coincidentally on the daily chart we have the appearance of a bottom forming at around $20.50.
- Momentum indicators are showing a possible double bottom formation. I will monitor closely.
- A short signal is being issued. This has also been changed but USO continues to astound and amaze me. Feels like 2008 all-over again.
- EMA(13) above EMA(34) on the daily chart along with the EMA(4) above the EMA(9).
- GLD between $120.00 and $110.00 is a buy and accumulation zone.
- I really want to see this test $120.50 in order to see my proposed pattern develop.
- Gold is a buy.
- EMA(4) recently moved below the EMA(9) on the daily charts which is the beginning of a daily bearish call on LIT.
- Lithium was listed as a short.
- Livestock is a speculative buy on the daily chart.
- Momentum indicators are beginning to cross over positively.
- StochRSI is in the oversold position but KST is still down sharply on the daily chart.
- Natural gas is listed as a neutral. I am very certain a bottom is forming as the mean StochRSI indicator is now finally crawling out above the 20 line.
- Daily chart looks like a bearish flag. Fall towards $71.00.
- EMA's on the weekly chart are all holding at the same level. PALL is gradually moving towards the final channel support line.
- Palladium is listed as a strong short.
- The daily chart is showing a bullish convergence of the EMA(13) towards the EMA(34). Possible bottom at $114.50.
- EMA(4) has moved above EMA(9).
- Platinum is being changed to speculative buy.
- My ascending triangle on the daily chart is still holding which is a good sign.
- Boundaries were shown between $16.00 and $14.60 and silver is beginning to show some very positive movements. This is an accumulation zone.
- Silver is a buy at $14.60 to $16.00 (suspiciously similar to GLD).
Soy Bean: SOYB
- Long term support at around $19.00.
- Consolidation zone showed a strong move upwards on the daily chart!!
- EMA(13) has just moved above the EMA(34) which is a bullish sign.
- Soy is currently listed as a buy.
- On the daily chart the EMA(4) moved above the EMA(9). Possible beginning of further movement upwards.
- Typical bottom formation pattern developing. I think resistance will appear around $37.50.
- Steel was listed as speculative buy.
- Sugar is listed as a short.
- Timber is still a short first to $23.40, then all the way to $22.80 to $22.5.
- We have a higher low on the daily chart with the possibility of fourth one developing. Let's continue to monitor closely.
- Also appears as if a head and shoulders pattern is forming.
- Uranium is a strong short all the way $11.00 and beyond. Let's see if this holds.
- EMA(13) is still well above EMA(34).
- Retracement towards $10.60 is foreseen.
- Wheat is a short on the daily chart.
Jakob Richardson © 2014