A Closer Look: Commodities
This post includes a lot of charts that provide a nice look at the commodities. We have seen some good breakouts in February. It will be interesting to see if this turns into a long term trend or pulls back.
Slight irritation slipping out there. Sorry pal.
Nice charts. Seems reasonable for the PMs to retest its 200dma given its recent breakout above it. This pullback seems healthy, especially if the 200dma holds as support..
If you want a commodity that you can catch at the bottom with good momentum and a good looking chart; it’s corn. As I’ve been saying the last 3 weeks, PMs will correct in March and they’re beginning that correction. Silver will not hold its’ 200 day MA and is in the process of breaking down. Gold should follow suit. But that’s okay since a spring doldrum should translate into a nice move later on.
Thanks Richard. First I have heard anyone say silver and gold won’t hold and to say so confidently. That’s what we need more of. You are not going so far as to suggest shorting but at this juncture however it looks a good bet to me. You figure a retest of lows is in the cards?
Nice to see the K Report is finally catching on Cory. I have been talking about this since January. Nobody even responded despite repeated prodding….oh wait…..you guys figured it out after the fact on your own