Crude Oil: USO
Natural Gas: UNG
- DBA is listed as neutral with a possible bull flag developing.
- A decline to $21.70 did happen and DBA continues to be stuck in a tight trading range.
- JJU is a short/sell.
- My speculative call turned out to be wrong and the strong support we had at $16.20 has broken.
- KOL is listed as neutral.
- Around the 18th of May a sell was issued and I think the sell-off has finally finished.
- Things are looking a little oversold and $12.00 is a good place to begin forming a base.
- JO is listed as a neutral.
- Momentum continues to make positive directional movements and we are approaching the end of the dominant downward channel.
- If $21.00 breaks down my theory of a commodities turnaround is wrong.
- It may look like a speculative long/buy right now but the ceiling is now drawn in at $23.23.
- DBC is being changed to neutral.
- The current red channel is very much in control and a further slight decline is expected this week.
- A higher low may be in so target is tentatively set to $17.97.
- JJC is listed as a neutral for this week.
- Weakness is still very much evident in it's chart but the stock has strayed outside the Keltner channels for five sessions now. A move back up to around $31.00 to get back inside is likely.
- CORN is listed as neutral, but a possible bull flag has developed.
- We are still tantalizingly close to breaking out with a bottom in at $22.50.
- BAL is listed as a neutral.
- USO is listed as a short/sell.
- Holding $20.00 is essential - breaking below forecasts more weakness for crude.
- GLD is a short/sell.
- The large long term declining channel is still in control.
- LIT is being changed to a speculative long/buy.
- The chart still looks weak but momentum is still positive so maybe the decline from mid May is coming to an end.
- COW is listed as a short/sell.
- Support was broken at $26.90 so this means we might see a decline to $25.50.
- I expect some more weakness ("speculative short/sell") next in UNG but I have attempted to draw what the new channel may look like.
- UNG could quickly change to a "buy" this week.
- UNG has to stay above $12.80 in order for this speculative uptrend to stay.
- No comment.
- SLV is being changed to a speculative long/buy as a strong bounce may take place at $15.10.
- No comment.
- SLX is listed as a neutral.
- Sugar is listed as a long/buy.
- I am predicting a bounce off of the lowermost support line.
- CUT is listed a short/sell.
- URA is a short/sell.
- WEAT is listed as a speculative long/buy.
Jakob Richardson © 2015