The chart explains everything. Look for shorts.
Seasonally weak till late October. Hogs have reached resistance at 99.500. Price action over the last few days suggests that a reversal is in place. I expect a quick fall during the next 2-3days back to the 1/1 Gann and 20 MA where another consolidation could take place.
Wheat often makes seasonal lows in early June. Double bottom posted on 20/05/13 and 17/06/13. A Break of the middle leg of the M confirms the buy with projection to 740.0 level. If 740.0 resistance is penetrated we could see 810.0.
Major ABC pattern between March and May has set-up a continuation of the down trend for the Loonie. Currently testing the upper down sloping parallel line. Another green bar or higher high on monday the 10th of June would be ideal to enter the short position.
Wheat often makes seasonal lows in early June. It seems is coming out from a tight consolidation around the 700.0 level (20EMA). Target would be 739.0 at the median line, also late march high - possible resistance.
Market in downtrend - interesting bear flag pattern formed below the 20EMA and in proximity of the down-sloping parallel line. A trade below 1.28170 would confirm the trend continuation. Preliminary target set at 1.25300.
After reaching support level at 82.80 (April,24) Cotton formed a nice wave back to the 20EMA. Monday (May,20) outside day can be the sign that consolidation is over and the downtrend ready to resume towards 79.00-78.00. I'm planning to sell below the outside day low. Major Lows culminating in early June (5/10/15 yr. seasonal charts) and mid August (20/30 yr....
Good opportunity to enter short here. Cocoa has retraced two days and has resumed the downtrend towards 2180-2160. Seasonal lows normally in June/July.
I'm currently making profits shorting almost every market but this one could be a bull. CAD retraced to an interesting Fib level. The upward sloping lower parallel is acting as support. A buy above today high could give high probability entry. Once triggered 0.99 level has to be monitored carefully.
Dollar index at the median line. Possible pullback at this point with reflection on the major currencies.
WTI crude has tested the median line and fully retraced intraday - bull signal. The could be a continuation of the trend with the last wave ending up to 100.00 level. I'm planning to go long above today high. Good risk-reward. Similar patterns in heating oil and RBOB gasoline, all heading higher.
Natgas has turned into downtrend. I expect few more days of tight consolidation along the up-sloping 1/1 Gann Line and below the 20EMA followed by a sell off with target objective around 3.60.
Soybean normally starts its seasonal decline in May as planting is well established and the crop growing season is well underway . The chart pattern is also suggesting a possible decline with target objective 1300 in the short term. A trade below 1337 support is going to confirm a long term decline. Weekly chart:
Silver has formed a bearish triangle shaped pattern close to the downsloping median line and 20 MA. A breakout to the downside is going to project the price lower (target round 20.50)
Australian dollar is currenlty consolidating below the 20EMA and seems ready to drop. Only a trade below 1.01890 would confirm the short position with projected target objective at 1.0000. Drop should be fast once the median line is crossed
I'm planning to short Cotton again next week. After reaching support level at 82.80 and the 1/2 Gann Line (April,24) Cotton formed a nice wave back to the 1/1 Gann line and 20EMA. A trade below the newly formed trend-line and pivot low (82.84) would confirm the pattern continuation towards the next support (77.00-78.00).
Copper double bottom may project the prices higher - 3.50. To monitor
Bull flag has formed in gold...just monitoring no positions placed