It’s the weekly commodity edition of What the FICC?
Not only are commodities losing their leaders, but the leaders are losing their former 2018 highs. As bearish as this sounds, commodities still deserve the benefit of the doubt.
Check it out!
Expert technical analysis of financial markets by JC Parets
by Ian Culley
It’s the weekly commodity edition of What the FICC?
Not only are commodities losing their leaders, but the leaders are losing their former 2018 highs. As bearish as this sounds, commodities still deserve the benefit of the doubt.
Check it out!
by Ian Culley
From the Desk of Ian Culley @IanCulley
Not only are commodities losing their leaders, but the leaders are losing their former 2018 highs.
Heating oil futures just posted their lowest level since February. Meanwhile, gasoline and crude have printed fresh year-to-date lows, taking out their prior cycle highs.
Now what?
Should we expect broad selling pressure to hit the commodity space?
Not so fast… [Read more…]
by Ian Culley
From the Desk of Ian Culley @IanCulley
Precious metals shine as the dollar drops.
It makes sense our bullish metal trades are working in this environment. But how are less dollar-sensitive contracts faring?
Let’s check back on two recent trades from October, coffee and orange juice.
by Ian Culley
From the Desk of Ian Culley @IanCulley
In late September, we highlighted the prior-cycle highs for the top commodity contracts.
The question was whether these levels would hold as support. So far, they have. But it’s two months later, and we’re asking the same question as those 2018 highs come into play again.
Let’s check back in on these critical levels of resistance turned support for clarity heading into year-end.
by Ian Culley
From the Desk of Ian Culley @IanCulley
I’ve tried the paleo diet.
I’ve even gone primal, cutting carbs while increasing fats for long periods of time.
But I haven’t tried the new all-meat-all-the-time lifestyle.
Whether you’re a full-on carnivore — or even if you just enjoy a nice steak once in a while — it’s time to hedge against rising beef costs using the futures markets.
by Ian Culley
From the Desk of Ian Culley @IanCulley
The bulls are dropping the US dollar like it’s hot – and risk assets worldwide love it!
Few areas are enjoying the newfound dollar weakness quite like the metals space. It’s not just precious or base metals catching higher. It’s both.
So if you shelved those shiny rocks months ago, it’s time to pull them out and take a look.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Metals have been one of the weakest areas of the market this year.
It doesn’t matter if we’re talking about the materials sector, commodity space, base and industrial metals, or gold. These assets have carried nothing but downside risk.
But mix in a little dollar weakness, and we see an impressive display of strength. Metals are finally looking like they have something to prove.
Yes, it’s only one day of action. But it’s a day worth noting… [Read more…]
by Ian Culley
From the Desk of Ian Culley @IanCulley
Energy stocks refuse to lose.
We can’t deny the relative strength of the energy space, whether we’re talking about stocks or commodities. But it’s been equities over the raw materials for months now.
It doesn’t look like that will change any time soon. However, I doubt energy contracts will be left behind.