Should South African Strikes be Resolved, Platinum Prices will Likely Suffer
The chart below reflects the fact that the recent rally in platinum prices, driven largely by South African mining work stoppages and strikes, has taken the metal up to falling resistance dating back to 2008. At the same time commercial…
History Suggests an 80% Chance Gold is Higher a Year from Now with the Potential for Gains Reaching or Exceeding 20%
Technically speaking we recently noted gold has been battling its first real test of resistance since bottoming in May at $1,525. Specifically, gold has been battling its 61.8% retracement level formed b/t its 2011 highs and 2012 lows for the…...
Nat Gas Going to $7 in Coming Months?
Our progression on Nat Gas has gone from incredulity in June even as it had just rallied ~40%, to bullish a few weeks ago. In June we noted that despite a ~40% rally off its decade-long lows, the commodity had…...
Are Silver’s Best Days Ahead of It?
We struggle with silver. We know some see it as a currency, like gold. As such, QE and central banker largesse around the globe, which will likely go on ad infinitum, should naturally benefit the metal. However, at the same…...
Ratio of Gold vs. Silver Sitting on Support that Has Tended to Coincide with Silver Tops Historically
The two technical set-ups in this post could make for some firecrackers, er, fireworks, in the metals space in the near-term. In the chart below the ratio of gold vs. silver has fallen to the combo of support lines (1)…...
Gold Faces its First Significant Test of Resistance Since Rallying 15% off its $1,525 Low
Over the past few months gold has rallied ~15% off its lows of $1,525. That rally has taken it up to two important resistance areas in the chart below including lines (1) and 61.8% Fib resistance formed b/t the metal’s…
Crude Appears to be Fading Somewhat Aggressively at Resistance & In Context of Seemingly Bullish Headlines
The chart below plots crude on a weekly basis. The commodity appears to be fading rather aggressively (i.e., -550 bps on the week so far) at the combination of resistance lines (1) and (2) drawn off its 2012 highs and…
Despite Pledge of Infinite QE from Fed, Commodities Under-Performing over Past Week
The table below shows the one-week relative performance of global macro assets. This is an important table to think about given the material announcement from the Fed last week that it will be doing open-ended QE for the forseeable future….
Downside in Grains Set to Accelerate?
As you know, we’ve been reasonably bearish on this group dating back to July, with most of that focus being on corn, as these posts here and here highlight for background. In fact, on August 10, when corn was 7% higher,…...
Time to Warm Up to Nat Gas?
I’ve shown you the analog chart with housing and all the other “popped” bubbles. This is the chart that left us believing housing was a compelling trade last year and remains one today. We’ve also used the chart of late…...