Archive | May, 2013

Gold takes an Additional 10% Drop

Gold spent the last 2.5 years in an undeniably obvious uptrend, supported by the white trend line shown below. This of course changed quickly this year as gold prices broke below the trend line… then the 100-day moving average (red)… then the horizontal support at $1,550 (red line). Gold sentiment has changed dramatically… more on […]

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Gravity Takes Over with Crude Oil

In the last three weeks Crude oil prices have risen better than $10/barrel trading within $1 of two month highs albeit very briefly Sunday evening. The failed spike higher in recent session can be attributed to unrest in the Middle East. As attention turned towards potential conflicts on Israeli airstrikes in Syria over the weekend… […]

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British Pound, Pass the Baton to the Bears

In the last two months the Cable has appreciated 4.6% to lift prices to 3 1/2 month highs but prices are finding resistance at the 50% Fibonacci level just under 1.5600 in June futures. To put things into perspective this has not been a one way trade as prior to the latest appreciation the Pound […]

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Copper, Listen to the Doctor’s Diagnoses

Copper prices have been establishing a base in recent weeks rocketing higher today, as of this post higher by nearly 6% as futures approach three week highs and previous resistance. July futures are 25 cents of their lows from Wednesday which represents ($250*25) or an appreciation of $6,250. Being the margins is only $3,410 that […]

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A Price Swoon Ahead for Natural Gas

$4.45 is the line in the sand for natural gas as June futures have been rejected on all recent attempts to move higher. Futures have given up the last three sessions, something that hasn’t happened since March. Today’s slide is the worst with prices down nearly 7% as of this post. Those not already involved […]

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RBOB says: Fuel up your Vehicle

RBOB (gasoline) futures have come down a full 53 cents/gallon, or 33%, from the most recent February 19th peak. Clearly a contrarian play, I’m now willing to suggest that aggressive traders can wade into bullish plays. Recent selling pressure can be attributed to crude oil stockpiles, which are approaching 400.0M barrels. This puts oil inventories […]

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