During ast several RSI oversold rally, oil price raised from 80% - 190%, and rally lasted 2 - 3 years. If this time is no exception, oil can continue to rally a couple of years, and reach ~ $85 level.
During last two gold bull markets, gold appreciated 500% - 600%. Nobody knows the future, but if it repeats the 80s - 90s price pattern, gold price actually may have a long way to fall (and current rally might be a counter-trend rally) and may not bottom until 2030s. Note long term bullish trend has not been fully formed/matured (judging by 10/20/30/40 M MA...
GDX was on fire recently and apparently this kind of vertical move is not sustainable. I marked the possible consolidating area in orange (it should and healthy). Because of the strong trend the pullback may or may not happen. Any pullback or continued breakout is a buying opportunity IMO, and chance is good it will challenge the red resistance area ($38 ~ $42)...
In June 2009, XOP gave back 2/3 of gains after interim peak. If history repeats, we may see XOP to drop to $28 level in coming weeks (0.618 Fib), and after that will be a good buying opportunity.
Has been consolidating since the start of June. I want to get out if the blue support is broken. Note the weakened RSI and MACD. Also pay attention to possible 10/40 day MA cross in the coming week(s). It still has chance to break out to the up side but the bias is to the down side short term.
We will see how it closes this month, which is only couple of days away.
All look good with a higher high monthly close. Plus the blue line may provide a strong support for any possible pullback. Strong enough for buying dips.
EWZ finished the month with a strong tone, made a higher high, issued a long term buy signal ( based on 5/10 MMA cross). Technicals favor a bullish case.
Technical picture looks a lot better... It is above the pink resistance now and we want to break out of the green box.
This week VIX had a big reversal and that changed the landscape and provided an important new reference point (the red resistance line). Unless there is another breakout it can live within under the resistance for a long time.
TIP is now having fully bullish look. This may confirm the bullish case for commodities and precious metals, and this may spell trouble for bonds.
This is another reason we pay close attention to emerging market. Still in its early stage so we will give it this summer to approve itself.
the chart seems to suggest China A share ETF is on the verge of major trend change (bias toward going higher). Given the mess in Europe and valuation in the US market, emerging market in general is appealing. Stay tuned.
It closes the day above 50 DMA and right under the blue resistance. A breakout can quickly send it to $26 area.
It is consolidating in the blue triangle. Will have to break out or break down.
Closed the week a bit lower than last week's close. It is concerning but given the rising wedge, bulls can push it to $35 area. Will re-evaluate if supports break.
May retest all time high. Even if top is in, topping will be a process. So far technical picture is still fine albeit weakened.