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The price forecast for US steel markets, much like me after contracting salmonella poisoning last week, has been quite lethargic lately.An imminent pullout from the doldrums doesn’t look all too...
Monday’s crop progress report put beans planted at 71% versus the 10 year average of 74%. Even with all of the rain, we are still at a fast pace, which has traders talking of 1-2 million more...
CLCrude futures plunged on Wednesday reversing it after data showed that oil supplies in the U.S. fell for the fifth consecutive week last week. The U.S. Energy Information Administration said in its...
Crude oil hits a six-month highA barrel of crude oil for July delivery closed at the highest mark of the year yesterday. An anticipated decline in U.S. inventories, combined with a nosediving...
Gold is in jeopardy. Losing $1180 for a third time would increase the risk tremendously that gold is going to drop to the next support zone, around $1050.
Gold – Thursday, June 4th, 2015 In the last 24 hours or so, gold has fallen sharply back through $1190; however, it has yet again received solid support from $1180, which has held it up now for...
For longer term oil traders, it is perhaps the weekly chart which sums up most concisely the current price action for the commodity, which could best be described as dormant, with the WTI contract...
The OPEC meeting slated for Friday of this week is the chief focus as the market continues to trade in the relatively tight range of the past several weeks. Rhetoric from member countries of the...
CLOil prices rose on Tuesday in response to a weaker dollar and expectations that OPEC producers would maintain their group production target at its current level and resist pressure for an increase....
Every day, we are bombarded with interest rate conjecture. When will they raise them? How can they?The simplest answer is that they can’t. But why not? And who are they anyway?They are the...
Let me start with silver. The initial drop from 17.78-17.08 seems to count best as a 3 wave structure, which was followed by a consolidation, and then a 5 wave structure. If I was not concerned about...
INTRODUCTION "Silver Bottom And Dow Top"(Mar. 8) identified the higher low forecasted in the Mar. 1 article, "Silver, Equity And Currency Turning Points: Silver Has Seen Its Lows." These followed the...
The odds are good for at least a test of Crude Oil's 200DMA, but I think oil did form a daily cycle low last Thursday:
It is perhaps significant, that even yesterday’s tumble in the US dollar failed to provide any upward momentum for either gold or silver, with the former gaining a miserly $4 per ounce whilst...
June is typically a boring month for gold and silver price action, although the latter half of the month tends to be a bit better for gold. That’s the seasonal chart for silver, courtesy of...