Making sense of the selloff in commodities to end the month
Marc Chandler, Managing Partner at Bannonckburn Global ForEx joins me to share his insights on the commodities selloff to the end the week and month. While the CRB index is still up for the week the weakest sector continues to be gold which has broken key support.
Bonzo,
I still feel it will target much lower price and in quick succession. Not trying to be a downer lol but sharing my charts as we spoke about this a week or so ago and we are here now. This stock nfgff is highly volatile and aggressive and the pattern shows 1.95 I would be dropping my mortgage on it..Save some powder. If it doesn’t that’s cool as well.
Glen
I’m waiting for the grind lower over the next couple months – I still see some gaps lower that need to be filled for certain gold and silver miners. I think the general equity market is in the process of topping so that will pressure everything. I do think we get a bounce in gold over next couple days and expect volatility to pick up a lot. I’m going to assume 23 silver and 1625-1650 gold are the bottoms.
Hi Ryan,
Thanks for your compliments I responded back to your post from yesterday I believe. Wishing you best of luck and you seem to have a good understanding of things. I did write a piece today I hope you can go back and see it the only thing that differs is timeline something as to say food for thought just sharing ideas and exchanging. All the best Ryan
Glen
After the big sell off in NFGFF today I loaded up the truck. Who else was buying today and which stocks? I wish I had waited 1 more day to buy LOMLF and IRVRF.