I've misread precious metals. Some have broken critical support lines when I figured the recent strength would mean a bounce up. I continue to advise a short on palladium, but platinum, silver and gold are not looking too hot at the moment.
- DBA still listed as a speculative buy.
- A bounce is likely to be observed which is why I think this speculative, but still holding above $22.90 which is good. Let's wait to see what happens when it breaks the red channel which is still some time off.
- JJU is still listed as a short.
- We've had a small bounce off of $17.00 but have very tight stops set up, please.
- Daily chart is poised to breakout so at least on the daily time-frame I'd treat it as a speculative buy. EMA's are also looking to crossover which is a bullish setup.
- JO has been switched to a speculative short on the daily charts.
- We had a break below $29.00 earlier in the week which means the next stop is the lower resistance line of the larger red declining channel.
- DBC is listed as a speculative short.
- We've had a good run so far but I now expect a bit of a retracement while we see whether a bottom is actually being put in.
- The recent upward move is supported by the MACD and KST indicators. Let's monitor how solid this floor is at $17.00.
- JJC listed as speculative short on the daily charts.
- CORN has been switched to a sell/short.
- All the EMA's are poised to cross downwards.
- Listed as a speculative short.
- Cotton was listed as a neutral while it approached the red resistance line which it has since blasted through. Excellent long term signal.
- I expect a retracement while it stays above the red support line.
Crude Oil: USO
- A speculative short signal is now issued.
- Gold is now a speculative short on the daily charts. The 'pause' that I have called for in GLD is still happening. The EMA(34) is trailing quite far behind it's current price and I would like to see it catch up before moving on. It is now above the MA(144) which is a huge development.
- According to my weekly charts we are closing in on my projected support of $116.00. This is going to be a phenomenal buy area.
- Lithium is still listed as a buy on the daily charts. EMA(4), (9) and (13) are all about to cross the EMA(34).
- Resistance at around $12.00.
- COW is listed as a speculative buy on the daily charts and still quite precariously positioned on the last resistance level.
Natural Gas: UNG
- Natural gas is listed as a buy.
- Resistance placed at $17.00.
- Palladium is listed as a speculative short
- All EMA's are bearishly aligned and I am not seeing a lot of encouraging movement at the moment. Support at $73.00.
- Platinum is still listed as a neutral.
- Three days ago a break below $114.00 happened which doesn't signal upward movement! We may have witnessed a false breakout.
- Silver is a neutral.
- I want to see a convincing bounce off of $15.20.
Soy Bean: SOYB
- Soy has been changed to a neutral.
- Steel is still listed as speculative buy.
- The daily charts are looking really good. EMA's have crossed over and upper resistance is estimated at around $40.25.
- Sugar is being switched to a neutral on the daily charts.
- A lower high has just been put in which is not a positive development.
- I don't expect $36.00 to hold.
- Cut is listed as a long term buy.
- All the indicators are a little over-stretched so my downward arrow is simply indicating a possibility of some retracement.
- Uranium is a speculative buy to about $11.40.
- Wheat is a neutral on the daily chart.
- A bounce off of resistance at $11.65 was expected and occurred within two cents!
- Let's see if support at $10.65 holds, otherwise this was a channel widening exercise and a further fall will occur (I've tried to show what this larger downward channel might look like.
Jakob Richardson © 2015