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 changed to a short.
- JJU continues to fall on the daily chart.
- JJU is being listed as short.
- KOL has broken below the critical $14.20 support. Placed in the middle of the large descending channel means this has a lot of room to continue falling.
- KOL is now as a short.
- Sorry, but the recent agricultural reports coming in on coffee global stocks blindsided me. I don't have the time I used to to be able to follow this closely.
- JO is listed as a buy.
- The expected reprieve from agricultural stocks and oil prices did not materialize.
- The decline is accelerating and my call back in September has not changed.
- DBC is listed as a short.
- Critical support at $32.00 was broken. My call in late December on shorting copper has not changed.
- Decline is now accelerating after today's move.
- JJC listed as short.
- Please take profits on CORN
- EMA's have all crossed and are headed downwards. In the long term I still like CORN, but now it's time to catch our breath and rejoin CORN once a higher low has formed.
- CORN is listed as a neutral.
- 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.
- I can't keep up with this decline.
- A short signal is still issued. USO continues to astound and amaze me. Feels like 2008 all-over again.
- We've now had a breakout of the large declining red channel two days ago. Resistance is still at about $120.50.
- 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 now a strong buy.
- EMA(4) right at the EMA(9) on the daily charts.
- We've also seen a series of higher lows on December 18th and then again first week of January.
- Lithium is changed to neutral.
- Livestock was listed a strong short on the weekly charts and the daily charts are now reflecting this.
- We had a great engulfing pattern today with 5.36% climb after yesterdays 4.60% fall.
- The XNG natural gas index was reported in an article on CNBC as having a 19% return over the last 20 years between the months of February and June.
- Natural gas storage levels are still below the five year average.
- Momentum indicators are beginning to cross over positively.
- Natural gas is listed as a speculative buy. 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 is still predicted.
- 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.
- Close today outside of declining channel which is a bullish sign.
- The daily chart is showing a bullish convergence of the EMA(13) above the EMA(34). Possible bottom at $114.50.
- EMA(4) has moved above EMA(9).
- Platinum is still listed as a speculative buy.
- A bounce off of $16.50 is possible. I'd like to see two closes above this before I get excited but SLV is showing some very interesting moves.
- My ascending triangle on the daily chart is still holding which is a good sign.
- Boundaries were shown between $16.40 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
- Support broke today in a very disconcerting development.
- Soy has been changed to a short all the way to about $19.00.
- Listing hasn't changed but SLX is currently clinging to support at the moment. I want to see a higher low develop before this call is repealed.
- Typical bottom formation pattern developing. I think resistance will appear around $37.50.
- Steel was listed as speculative buy.
- Odd! The EMA(4) has moved above the EMA(9) and the critical EMA(13) and (34) are converging.
- Sugar is listed as a neutral.
- Timber is still a strong short first to $23.40, then all the way to $22.80 to $22.5.
- Head and shoulders pattern has come to fruition.
- Uranium is a strong short all the way $6.00 and beyond.
- Retracement towards $10.60 is foreseen.
- Wheat is a short on the daily chart.
Jakob Richardson © 2015