I'm studying for another crack at my medical board exams so I'm only reviewing commodities where some interesting moves are being seen. Agricultural and precious metals stocks are looking appropriately positioned for opening short positions.
Crude Oil: USO
Soy Bean: SOYB
- DBA still listed as a short/sell.
- We will likely see it reach the lowermost resistance line.
- Daily chart shows KOL as a speculative sell/short.
- EMA's made a bullish crossover but only long enough to create a false breakout. Looked like a sell three days ago.
- CORN has been switched to a short/sell.
- Our bounce was short lived and a breakdown from the MA(144) is in progress.
- A speculative buy/long signal is now issued.
- Still below the MA(144) but some important EMA crossovers have taken place. I'm not optimistic however about oil's long term outlook.
- Gold is now a short/sell on the daily charts.
- The head-and-shoulders pattern does not look like it's materializing but we had a close yesterday below a critical support zone. One more and this will be a very strong short/sell.
- CUT is listed as a long term buy but in the near term is a speculative short/sell.
- All the indicators are still over-stretched so my downward arrows are indicating the possibility of some retracement.