Pro Long (Chart): - RSI and Stochastik created buy signal - Orange support line Pro Long (Physical): - ICE warehouse stocks new lows - spreads tightening ever so slightly Contra (Chart): - still in middle to upper end of trend channel - room to go in terms of lower Bollinger band - long term trend still down - risk/reward for long position not there IMHO I...
After reaching 50, as expected some sideways action. sold the 52c around 1.05 around 2 weeks ago. I am neutral, because this looks like a correction of the prevailing uptrend as indicated in the dark red trendchannel. Downside support are the blue trend line at around 48.20 and the 20 day MA or middle BBand. Further on the downside we are looking at the...
Expecting a breather as gold seems quite oversold. Look for overall sideways action for the next 5 to 10 trading days On a weekly basis, 1200 level marks the middle BBands, hence expecting some support to come in. Should we break 1200, downside targets of 1120, 110 as well as old lows at 1060 IMHO selling put spreads for the time being might be good to take...
Good opportunity to sell some upside calls or call spread, above 1.60 strike for sideways or correction lower IMHO Targets on downside middle BBands and lower trend line (orange). (Time frame next 5-10 trading days)
Coffee nearing the orange support line around 122 (2nd month continuation, about 119-120 front month ). Interesting fact about this correction lower from 134 to 122 is that this is the first time in a couple years that we actually have an up-sloping support line (orange line). If the orange support holds this could mark a longer term trend reversal. On the...
Sideway action as the trend slope of the trend has become steeper. Not saying the uptrend is over, but stalling, especially since RSI and Stochastik start to indicate some divergence. Short call spreads seems to be good risk/reward IMHO. Wouldn't be buying puts as the premium will deteriorate as long as the market doesn't sell off.
Expect the bullish trend we are in to slow down as we run into resistance areas Upward sloping support line active. Look for 9 day and 20 day MA as target for pullbacks
Buy signal on RSI and Stochastik accompanied with a ascending support line provides good entry point for a long position. via Short puts or short put spread out in Sep16 delivery month. Expect sideways action then upside targets would be 9 day MA around 3000 and 20 day MA at 3100 (both sloping down, so expect more sideways before a rise
Short term targets on the downside: - 9 day MA around 129 - middle BBand at around 125.50 - Fib retracements
Oversold on Bollinger, but Indicator momentum in line with new lows. I am looking towards the extension of the previous lows this year to get to 34-35 for support, then 33 (old front month low of January 2009) Until then, more of the effects of the OPEC meeting, which yielded more supply coming on line in the near future. These levels are not worth shorting...
Pro bullish: - Slight bullish divergence on RSI and Stochastik - market running into support at lower end of trend channel - lower Bband at lows - Spreads steady Pro neutral: - nothing clear cut yet in terms of buy signal This is a good risk reward IMHO
As the weather is clearly warm... 75 in NYC I believe that is quite frankly priced in. El Nino and 95% probability? also priced in. I think NG was a little overextended to the downside. Lets face it: yes we have record temperatures, but we are also on multi year lows of the contract. IMHO it wont go to 0, so looking purely at risk reward this was a good deal last...
Starting to run into some support. Seasonally we are approaching lows as well in November. For me time to start looking into a long position IMHO. We are approaching the lower end of the trendchannel (valid since early this year), however there is an ups-sloping trendline that formed since the previous lows in September. I am also expecting this to be much of...
Took longer to develop as the market decided to test the upper level of the 3 year trend channel In the meantime, we had several bearish and bullish engulfing patterns and an up sloping trendline (orange) formed. The previous highs made at 15.50 developed and formed a divergence with RSI and Stochastik. Spreads were stable but collapsed as SB sold of on...
Looking for some downside correction as we reached the upper trend channel IMHO - Ran into resistance without follow through for today. - Overbought on daily chart - At upper BBands on weekly chart NOTE: - There is chatter of weather issues (drought) in Brazil, so I am cautious - Also, 9 day MA crossed 20 day, 50 and 100day MA north, so that is bullish too
Turning neutral and watching closely. I think good entry for e retracement IMHO - RSI & Stochastik with bearish indications and market is very overbought. - bearish engulfing and hanging man (confirmed with bearish engulfing) - spreads have been weak the last three days already indicating a trend change I am neutral with a bearish bias, but need more confirmation IMHO
RSI and Stochastik provided buy signals today, so I am turning from neutral to bullish. Spreads very strong across the board, which supports the signals generated. Strong support around 3029 held On Oct 15th, the NCA will release the updated Cocoa grind statistics. CAUTION: Moving averages are looking down, hence I am cautiously bullish