Tuesday, January 20, 2015

Commodities Report: Daily Charts

I'm only going to be able to give the listed recommendation tonight. I have a twelve hour shift at the care home tomorrow.

Agriculture: DBA
  • DBA still listed as a short.

Aluminum: JJU
  • JJU is being listed as short despite the apparent bottom. This is simply a 'channel widening exercise,' the decline will continue.

Coal: KOL
  • KOL is now as a short.

Coffee: JO
  • JO is listed as a short after breaking down from it's upward channel.

Commodities: DBC
  • DBC is listed as a short.

Copper: JJC
  • JJC listed as short.

Corn: CORN
  • 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 short.

Cotton: BAL
  • Listed as a short

Crude Oil: USO
  • $BPENER index is below 20 meaning this thing horribly oversold.
  • A short signal is still issued

Gold: GLD 
  • Gold is now a speculative short. There needs to be a pause in this ascent.

Lithium: LIT
  • Lithium is changed to neutral.

Livestock: COW
  • Livestock was listed a strong short on the weekly charts and the daily charts are now reflecting this.

Natural Gas: UNG
  • Natural gas is listed as a neutral. Weather report issued on Bloomberg stated that higher than expected temperatures were expected for the next two weeks.

Palladium: PALL
  • Palladium is listed as a strong short.

Platinum: PPLT
  • Platinum is still listed as a speculative short. A pause is needed here as well and it has reached my proposed resistance of $125.00. I still really like precious metals in the long-run.

Silver: SLV
  • Silver is a speculative short. It too has approached a critical resistance level so profits should be taken.

Soy Bean: SOYB
  • Soy has been changed to a short all the way to about $19.00.

Steel: SLX 
  • Steel is still listed as speculative buy.

Sugar: SGG
  • Sugar is listed as a neutral. A bottom looks like it's going in!

Timber: CUT
  • Timber is still a strong short first to $23.40, then all the way to $22.80 to $22.5.

Uranium: URA
  • Uranium is a strong short all the way $6.00 and beyond.

Wheat: WEAT
  • Retracement towards $10.60 is foreseen. 
  • Wheat is a short on the daily chart.

Jakob Richardson © 2015