June beef exports were on par with the May lows, down 33% from a year ago. Exports were lower than the previous year to most markets except for Canada, China and South Africa where official figures showed an increase. Exports accounted for 9.7% of beef production in June, down from 15.4% a year ago, the lowest in 10 years. Historic Seasonality data shows August...
EUR/ZAR exchange rate edges higher today after a straight 9-day rally. The South African Rand (ZAR) has struggled to gain against the EUR after South Africa reimposed its lockdown adding an additional night time curfew earlier on in July. South Africa has one of the strictest lockdowns in the world, restricting more or less all outdoor movement and prohibiting...
Coeur Mining Inc (CDE), mines, develops and produces gold, silver, zinc and lead properties. Founded in 1928, Coeur has acquired mines in the U.S, Mexico, Bolivia, Chile, Argentina, Australia and New Zealand. Current market cap: $2.1B Currently trading at 83% below fair value Earnings are forecast to grow 46% per year 7 Day return 10.7% 1 Year return...
The Financial Select Sector SPDR Fund (XLF) has drastically underperformed the broad market since the COVID-19 March lows (second to Energy XLE). Yesterday XLF gapped up closing at 2433.50 +0.70% whilst holding above its medium-term moving averages on the Daily time frame. During this morning's U.S. session we are seeing weakness amongst the XLF members. Here are...
Nickel Bulls are really putting the work in recovering an impressive 22.5% from the pandemic March lows. Nickel has remained inside a multi-year rising channel (A) and is now facing a strong resistance hurdle before further upside is likely to resume (for the medium-long term). Nickel mining companies are being urged to mine more nickel, as the Nickel ‘battery’...
Cotton is a member of the Soft Commodities sector and is one of the more volatile commodities in its group. Weather conditions in producing countries, along with supply and demand are the main drivers behind the volatility. Since the coronavirus pandemic, demand has evaporated as factories and outlets cease to work and the ongoing feud between the U.S. and China...
The Great British Pound, Danish Krone (GBP/DKK) fell to its lowest level on Monday 27th July which marked the bottom for July ‘20 ahead of Denmark’s retail sales figures for June, which rose from 5.2% to 6.6%. Despite this the Danish Krone weakened against the pound throughout the remainder of last week and is now testing twin monthly and weekly resistance at...
Over the past two weeks, the US Dollar currency Index (DXY) has broken through major daily and weekly support levels and is now testing the big one, monthly horizontal and rising channel (1) support at (2). The broader long term outlook is still looking bullish at this stage and will continue to do so providing the DXY stays within its multi-year rising channel....
Yesterday's low (2) came in at 10477.3 for the USD/JPY placing it squarely inside the historic support zone (1), a slight recovery into the close printed 10496.4 a few pips shy of the 10500 handle. During this morning's European session, we’re not seeing much of a rebound off these lows, currently holding just above the 10500 level at the time of writing. The...
22nd Century Group Inc is a plant biotechnology company, which provides technology that allows increasing or decreasing the level of nicotine in tobacco plants and cannabinoids in cannabis plants through genetic engineering and plant breeding. On the 5th of June of this year, the Chairman of 22nd Century Group Inc, (XXII) Nora Sullivan purchased 101,325 shares...
January 5th 2018, was the beginning of the relentless decline for Ripple (XRP), closing 2019 as the worst-performing cryptocurrency of the year. After what looked like a promising start to 2020 (Jan & Feb) XRP resumed its downtrend after failing at the 21st July 2019 highs. By March of this year, partly due to the coronavirus pandemic XRP re-visited the lows of...
EUR/USD hovers around multi-year trend line resistance and 23.6 fib (1) level taken from July 2008 highs and the December 2016 lows. Over the past couple of months, the US Dollar (USD) has taken a beating from its peers and continues to get destroyed as we head into this week's session. According to the latest Commitment of Traders (COT) data, large currency...
Corporate insiders were spot on in March when they applied heavy buying pressure (1), hoisting the S&P 500 more than 45% just shy of 4% from the February highs. Those same buyers have now turned sellers (2). Insider data suggests companies with insider selling exceeded those buying by 186% which is nearing the 200% level which has served as a reliable indicator...
Back in May of this year analysts predicted that the US Dollar Index (DXY) which measures the value of the US Dollar compared to a basket of other currencies would most likely decline over the coming months as we head towards the US election in November. The decline of the US Dollar since the March highs of this year has been relentless, breaking through numerous...
Multi-year trend line support has provided good buying opportunities since the August 2015 decline. The 78.6 Fib, 200 period weekly moving average and trendline support now in play at (1). Short term sentiment amongst small participants is approx 68% bearish, which usually serves as a good indicator when turning points are approaching. Watch for buying pressure to...
The $20 handle on Silver has provided multi-year resistance and is now (today) back in play at (1). Silver has gained 13.18% so far this month (at the time of writing) which could be construed as a precursor for what might be the beginning of a new trend from a multi-year bottoming pattern. Price action around this triple resistance cluster at (1) will be key to...
As the name suggests, the MACD (Moving Average Convergence Divergence) indicator tracks the relationships between exponential moving averages, and the two lines can be described as convergent or divergent. The signal line is a 9-day EMA (Exponential Moving Average) of the MACD line and is commonly used as a trigger for buy and sell signals. MACD is often...
The NZD/CAD currency pair has been in a long term downtrend since the highs of November 2016, creating lower swing highs along the way. From the March lows this year the NZD/CAD has enjoyed a robust rally which lasted up until the end of last month where it tested a strategic resistance zone comprised of the 200 period monthly moving average, 50% fib level (taken...