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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
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IMPORTANT BLOG POST UPDATES...
* JCPOA - Will President Trump recertify the JCPOA on May 12?...stay tuned...May 8 the answer is "No"...US pariticipation in the deal
is scrapped...new sanctions coming for Iran and, possibly, for nations supporting Iran.

Saturday, April 21, 2018

Commodity Money Flow for 2018: Keep an Eye on Dr. Copper

The following three graphs show the percentages gained/lost for commodities for:
  • 2018 (Oil and Gasoline have been the big winners),
  • the month of April (Copper and Silver have joined Oil and Gasoline as the biggest gainers),  and
  • the past week (Silver and Copper have gained the most, followed by Oil and Gasoline).




The following 1-year and 2-month charts of these commodities show their price relative to their 50-day MA, as well as their prior swing highs/lows, all of which form their respective resistance/support levels.

The expanding swings on the rate-of-change indicator (and new 2-month ROC swing high) on Copper and Silver reflect the recent buying in these two metals. I've shown it with an input value of 1 day to measure its strength/weakness from one day to the next to depict short-term interest. So, it's one indicator that can be monitored to gauge potential sustainability of any further rally next week and beyond...at the moment, it's hinting of further strength to come.



Lastly, the following monthly chart of Copper shows longer-term major resistance and support (as defined by overlapping Fibonacci retracement levels) around 3.30 and 2.94, respectively. A breakout (and hold) above or below this tightly congested zone could produce a sizable move to follow.