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theflasherman

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Crude oil closed flattish at $80.53 (+0.01%), unable to shake off the evidence of preliminary rejection from the $82.18 high the day before. Mindful that a break/close below $76.00 is needed to damage the uptrend and to indicate a deeper pullback in line with the weaker seasonality of October is underway. After testing and holding trendline support on the daily chart, natural gas closed higher at $5.455 (2.04%). Russias pledge last week to increase gas supply to the continent has helped take the sting out of a very tight market. However, should Natural Gas see a sustained break above last week's $6.466 high and the 2014 $6.49 high, it could lead to a very messy move towards $10.00 coming from the high of December 2000

 

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nat gas keeps going higher , and winter coming in northen hemisphere

 

good for WPL STO OSH share price. [ i'm good] :P

 

 

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Copper closed at $4.50 (+4.10%) following the release of an IMF report that said: “the demand for some metals would increase with more certainty because they are used across a range of low-carbon technologies (copper, nickel, and manganese, for example).” The report also said, “In the IEA’s Net-Zero by 2050 emissions scenario … copper shows a twofold increase in total consumption”. Copper has broken out of the top of the five-month trend channel. Backed by tight supply and the fundamentals outlined above, providing Copper holds above support at $4.30, the expectation is for a retest and break of the $4.88 high with scope to $5.25. Natural gas closed higher again at $5.67 (3.03%). The pullback that has followed Russias pledged to increase gas supply to the continent looks to have played out for now and supply remains tight. Should Natural Gas see a sustained break above last week's $6.466 high and the 2014 $6.49 high, it could lead to a very messy move towards $10.00 coming from the high of December 2000 viewed on the monthly chart below. One to keep an eye on
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Copper closed higher again $4.61 (+2.25%) following the release of an IMF report earlier this week that said, “In the IEA’s Net-Zero by 2050 emissions scenario … copper shows a twofold increase in total consumption”. Copper has broken out of the top of the five-month trend channel. Backed by tight supply and the fundamentals outlined above, the view remains for copper to retest and break of the $4.88 high with scope to $5.25. I would only reconsider the bullish view if copper were to close back within the trend channel. Silver is higher overnight at $23.56 (+2.18%), benefitting from the retracement in the U.S. Dollar and U.S. yields. We added silver to the radar two weeks ago, and as long as silver holds trend channel support and the support coming from the 50% Fibonacci near $21.00, we remain bullish looking for $24.00, before $26.00

 

 

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seen silver back into uptrend , my short term silver bet , seems will pay of big time before year end... :P

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