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Daily Commodities Update: Natural Gas

AutoChartist.com — Wed, 17 Nov 2010 15:59:00 EST

One of the only commodities which has avoided being directly affected by the US Dollar�s performance in the forex markets is the Natural Gas futures. Because this market is dominated by both domestic production and consumption within the US, the typical relationship between gas and crude oil (still holding firm above $80 a barrel) has not materialized. Natural Gas is near contract lows for the year, and Autochartist has identified what may be an intermediate term low in the form of a Pennant chart pattern on the 30-minute time frame.

Daily Commodities Update: Wheat

AutoChartist.com — Tue, 16 Nov 2010 23:23:00 EST

December Wheat futures started the week off with a modest reversal of Friday�s steep sell-off, finding steady support near $6.60 a bushel after falling nearly $1 a bushel from the recent highs. This descending trend has formed a very well organized Pennant chart pattern on the longer term 240-minute chart. Autochartist has identified a Breakout signal executing with the most recent candle shown below.

Turn the Heat Up 11/16/10

Matthew Bradbard — Tue, 16 Nov 2010 22:41:00 EST

This title has two meanings; the AC is broken in my office which is brutal in Florida and the 5% swings in commodities only makes thing more interesting. Try to keep a Cool head! Crude oil has declined $6.50 in the last four sessions as of this post cutting through the 20 day MA like a hot knife through butter.

The Easy Trade 11/15/10

Matthew Bradbard — Mon, 15 Nov 2010 23:17:00 EST

In this environment there is not such a thing. In my ten year career I�ve never seen so much volatility and uncertainty so be careful. Crude traded marginally lower today after Friday�s 3% loss. We expect the 20 day MA to give way at $84.60.

Daily Commodities Update: Silver

AutoChartist.com — Mon, 15 Nov 2010 23:15:00 EST

Amidst extremely high volatility in last week�s trade, the Silver market reached a selling climax after a break of more than $3 per ounce from the recent record highs. From a technical viewpoint, this swift drop culminated in a classic �Head and Shoulders� chart pattern, with the 15-minute time scale illustrating the formation on the Autochartist platform.

Rocky Road 11/10/10

Matthew Bradbard — Wed, 10 Nov 2010 21:15:00 EST

No not the ice cream but rather the current market. A bullish inventory report and low and behold a fresh 2010 contract high in Crude. The triple top is negated as we should see $90 on this leg and potentially a re-visit of the spring highs near $93.

Daily Commodities Update: Gold

AutoChartist.com — Wed, 10 Nov 2010 21:11:00 EST

Gold had an extremely volatile session Tuesday after a sharp reversal in the US Dollar on a quick rise in the interest rate complex. This sent precious metals into the short-term correction as forecast yesterday by Autochartist. The Rising Wedge chart pattern gave a picture perfect sell opportunity after completing the formation as shown on the hourly candlestick chart below.

Bullish crop report for Beans. Wall Street Journal reports that Soybeans are up 27% on a year-to-date basis

Rick Alexander — Wed, 10 Nov 2010 20:34:00 EST

GRAINS: 11/10/10 Higher to sharply higher closes Tuesday for rough rice, soybeans, soymeal and soyoil while lower for Minneapolis, Kansas City and Chicago wheat along with corn and oats. The crop production report was very bullish for beans and lesser so for wheat and corn which led to a lot of spread trading.

Not a Normal Market 11/8/10

Matthew Bradbard — Mon, 08 Nov 2010 23:16:00 EST

As we�ve voiced�.your opinion my opinion, the fundamentals, the technicals throw it all out the window the Fed wants to appreciate assets so prices should rise. Oil should make a probe at $90/barrel on this leg which would be roughly a 2.7% advance from today�s settlement. This should lift heating oil and RBOB close to levels not seen since Spring break�trade accordingly. Its official natural gas has closed above the trend line that has capped rallies for the last six months.

'Natural gas, the answer to challenges in energy'

Commodity Online — Wed, 03 Nov 2010 19:43:00 EST

SINGAPORE (Commodity Online):Natural gas could help drive a clean energy environment in an energy sector that expects substantial increases in demand, a Shell executive said in Singapore. Malcolm Brinded, executive director of the upstream sector at Royal Dutch Shell, told the audience at an energy summit in Singapore that his company expected energy demand to double by 2030, with Asian consumers accounting for about half of that growth.

Russia oil output hits all time high in October

Commodity Online — Wed, 03 Nov 2010 19:42:00 EST

MOSCOW (Commodity Online) : World�s largest oil producer Russia�s production hit an all time high in October, according to country�s Energy Ministry.

October's oil output beat the all-time high of 10.16 million bpd in October, up by 4 percent as new fields went on stream on Sakhalin Island.

Daily Commodities Update: 30-Year Treasury Bonds

AutoChartist.com — Wed, 03 Nov 2010 19:39:00 EST

US T-bond futures are likely destined for high volatility this week. This, as Tuesday�s election results are digested in the midst of monthly employment data, plus major policy announcements from the Federal Reserve regarding interest rate policy, and more importantly the details of the planned �QE 2� -or second phase of the Fed� massive quantitative easing strategy to reinvigorate the US economy by swapping old debt for fresh cash.

Bean complex forming a Bull Pennant

Rick Alexander — Wed, 03 Nov 2010 17:36:00 EST

GRAINS: 11/03/10 Higher closes for rough rice while lower to slightly lower for soybeans, soymeal,soyoil, corn, oats, Minneapolis, Kansas City and Chicago wheat. I still don't have any signals in the wheat complex at this time and you can see, by looking at the Chicago wheat chart below, it has been basically in a sideways pattern since early August.

Dollar Up Equals�. 10/27/10

Matthew Bradbard — Wed, 27 Oct 2010 21:42:00 EST

The last few posts we�ve referenced a dead cat bounce in the US dollar and how it will affect other markets. Have you listened? Conflicting figures in today�s� inventory report as a large build in Crude was canceled out by a large draw in RBOB.

Daily Commodities Update: Coffee

AutoChartist.com — Wed, 27 Oct 2010 17:28:00 EST

December Coffee futures recently surpassed $2.00 a pound for the first time in decades, following the cotton and sugar markets into record territory as the commodities bull market continues. The most recent rally in coffee has formed a Channel Up pattern on the hourly chart. A continuation of this pattern could push the market towards the $2.12 resistance level in the trading sessions ahead.

Grains tend to fill a majority of their Gaps

Rick Alexander — Wed, 27 Oct 2010 17:12:00 EST

GRAINS: 10/27/10Higher closes yesterday for Minneapolis, Kansas City and Chicago wheat along with rough rice, oats, soybeans, soymeal and soyoil. Minneapolis and KC have been in a trading range, albeit a wide one, since August still unable to break out of their respective resistance areas so far causing me to remove my sell signals and stand aside. However, my sell signal for Chicago wheat will remain although not a strong one at this time.

Daily Commodities Update: Palladium

AutoChartist.com — Tue, 26 Oct 2010 23:09:00 EST

A potentially bullish Rising Wedge emerging pattern on the December Palladium Futures 240-minute chart has culminated in a strong Breakout signal generated by the Autochartist platform. The pattern, measuring 27 bars in length, is showing a healthy 8-bar Quality reading, with a clean distribution of swing highs and lows to define the trading range of the wedge.

Dollar�s day of Reckoning 10/26/10

Matthew Bradbard — Tue, 26 Oct 2010 22:57:00 EST

Dollar�s day of Reckoning 10/26/10

Matthew Bradbard — Tue, 26 Oct 2010 22:57:00 EST

On a 3-5% appreciation in the US dollar how much can commodities correct? Inside day in December Crude with prices closing marginally higher. We may get a bounce off the inventory number tomorrow but unless prices settle above $84.50 we think a correction is in the cards. In our estimation in the coming weeks December Crude trades down to $77/78 and then a rally above $90 into year�s end. Doji star in December natural gas and a day later prices are 7% off their lows.

Contrarian Opinion 10/25/10

Matthew Bradbard — Mon, 25 Oct 2010 21:38:00 EST

My take is the dollar is due for a bounce and indices are ready for a reversal lower while most commodities could trade down in the immediate future.