Daily Commodities Update: Wheat
30 of March, 2012
By Jonah S. Ford Wheat futures triggered a technical sell signal ahead of Friday’s USDA crop report in a move that may have given traders a head start if the release is viewed as bearish by the market. Autochartist had been tracking the development of a very broad “descending triangle” chart pattern on the 240-minute [...]
Daily Commodities Update: Silver
29 of March, 2012
By Jonah S. Ford Silver futures took a beating in Wednesday’s trading session, following the rest of the precious metals as both stocks and commodities finished the day in the red. The price action in silver is of interest when viewing the chart analysis on the 30-minute time frame. Autochartist has identified the latest pivot [...]
Daily Commodities Update: Live Cattle
27 of March, 2012
By Jonah S. Ford April Live Cattle futures have set up a picture-perfect “falling wedge” chart pattern, with Tuesday’s price spike initiating a breakout. Autochartist has been tracking this pattern on the 240-minute time frame throughout its development. The falling wedge chart pattern began forming when the cattle market fell back from the all-time highs [...]
Daily Commodities Update: Natural Gas
27 of March, 2012
By Jonah S. Ford NYMEX Natural Gas futures retested the lows in Mondays session before turning slightly higher at the close. The slide completes a short term “falling wedge” chart pattern, illustrated here on the Autochartist 15-minute time frame. As this level is again testing multi-year lows for thr natural gas market, any signs of [...]
Daily Commodities Update: Sugar
26 of March, 2012
By Jonah S. Ford Sugar futures have managed to hold their ground over a key support level during the last several trading sessions. Upside resistance continues to cap gains however, and Autochartist’s key level indicator has identified the 25.25 cents per pound level as one to keep a close eye on as the trading week [...]
Daily Commodities Update: Wheat
23 of March, 2012
By Jonah S. Ford CBOT Wheat futures bounced Thursday after having pushed to new lows in Wednesday’s session. This short term recovery may be significant, as there was a pronounced lack of follow-through selling on the initial weakness. Autochartist’s key level indicator has identified the recent range as a attempt to hold the $6.48 per [...]
Daily Commodities Update: Coffee
22 of March, 2012
By Jonah S. Ford Coffee futures perked up in Wednesday’s trading session after touching off key support earlier in the week. The long downhill slide in this market has formed a decisive “falling wedge chart pattern, identified by Autochartist and shown here on the 240-minute time frame. Coffee hit a multi-year low price of [...]
Daily Commodities Update: Heating Oil
21 of March, 2012
By Jonah S. Ford NYMEX Heating Oil futures headed lower in sympathy with the broader crude oil complex during Tuesday’s session. The turn-around after last week’s strong performance falls in line with the progression of a large “triangle” chart pattern detected by Autochartist on the 240-minute time interval. The market topped out at the trend [...]
Daily Commodities Update: Platinum
20 of March, 2012
By Jonah S. Ford Platinum futures began the week moving quietly higher with the price of gold. The mild strength is carrying the market towards key resistance on the Autochartist 240-minute chart analysis, which reveals a large triangle chart pattern. The price of platinum is quickly approaching the apex of the triangle which suggests a [...]
Daily Commodities Update: Cocoa
19 of March, 2012
By Jonah S. Ford Cocoa futures moved lower Friday after trading in a prolonged sideways range for most of last week. The market failed to hold key level support at the bottom of this range, identified by Autochartist as a shallow “descending triangle” chart pattern, which implies a potential furthering of the sell-off for Monday’s [...]