Forecasts & Analysis | Commodities, Page 1

On Tuesday, the market struggled early with a resistance cluster at $52.63 to $52.65. The key thing to remember about resistance clusters is that they also act as trigger points for accelerations to the upside. (Take a look at what gold did on Tuesday when it took out a price

Earnings don’t move the overall market; it’s the Federal Reserve Board… focus on the central banks and focus on the movement of liquidity.

Gold ran into resistance at a downtrending Gann angle at $1606.10. Trader reaction to this Gann angle will likely set the tone on Wednesday.

Managed money traders remain heavily short natural gas

Momentum turns positive

Silver markets have rallied significantly during the trading session on Tuesday, breaking above the $18.00 level. The move of course has shown quite a bit of strength and as a result it looks like pullbacks will continue to be bought.

Crude oil markets initially fell during the trading session based upon fear in Asia and the Chinese situation in general. Ultimately, this is a market that continues to suffer at the hands of lack of Chinese demand, but it appears that we are trying to form a base.

Natural gas markets gapped higher and rallied significantly during the trading session on Tuesday, breaking above the $1.95 level during that session. With colder temperatures coming, this makes sense but don’t lose sight of the fact that we are still very much in a downtrend.

Gold markets rallied significantly during the trading session on Tuesday, breaking above the $1600 level. At this point, the market looks is likely to continue to go higher, especially if we can break to a fresh, new high.

Short-term weakness in oil doesn’t negate current bullish indications derived from recent price structure.