Commodities Countdown

Commodities Countdown With Greg Schnell 2017-12-07

This weeks edition of Commodities Countdown has a lot of the commodities breaking down through the 40 week moving average. The majority of the energy sector is still above the 40-week moving average, with the exception of $NATGAS. Gold broke an uptrend this week and dropped to four month lows. The recording contains lots of discussions looking for reversals and a complete segment on currency.

Commodities Countdown Recording with Greg Schnell 2017-12-07 from StockCharts.com on Vimeo.

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Oil Producers And Oil Services Setups

With oil posturing to hold $55, there is lots of anticipation that oil will fail here. While the stocks can fall from here, there are a lot of nice setups should a round of optimism move towards oil companies. This article is laying out some of the setups.

Diamondback Energy (FANG). The SCTR is rubbing the 75 level. The relative strength is in a small uptrend off the August lows. While some consolidation here is ok, this stock looks well positioned to breakout. 

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Commodities Countdown Video Recording With Greg Schnell 2017-11-30

This weeks edition of Commodities Countdown notes that the commodities had a stalled week. Gold and the gold miners traded down this week. Gold was down 1.25% and Gold miners traded down 1.96%. Silver struggled as well, down 4%. Copper was down a couple of percent. Crude and Natural gas were both down 1.1%. While it wasn't ugly, a few charts turned over. However, on Thursday November 30th, the gold stocks held their ground, and oil stocks traded up. 

To compliment the weakness in commodities, the $USD also traded lower, which is not the normal relationship. The US dollar did not bounce at all when the stock market jumped on the back of the increased probability for tax reform passing Thursday. My primary analysis of the dollar is that we are in a $USD bear market. We should see the direction resolve itself in December. If the $USD breaks down, we would expect a breakout in a lot of the commodities. So the video marks some important things to watch for over the next month.

Commodities Countdown with Greg Schnell 2017-11-30 from StockCharts.com on Vimeo.

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Commodities Countdown Video Recording 2017-11-23

This weeks Countdown focuses on the strong oil price at $58.60 and the gold price around $1300. There is a real chance that the next two weeks see explosive moves in commodities stocks. The one caveat is that we are watching for some divergence on the daily chart of the $USD. This has not shown up yet.

Commodities Countdown With Greg Schnell 2017-11-23 from StockCharts.com on Vimeo.

Good trading and happy Thanksgiving,
Greg Schnell, CMT, MFTA

Commodities Countdown Video Recording 2017-11-17

The Commodities Countdown Video Recording With Greg Schnell 2017-11-17 is now available.

If you would like more commodity related stories, check out the entire Commodities Countdown blog. There are also some tips on scanning and breadth in October 2017.

Commodities Countdown Video With Greg Schnell 2017-11-17 from StockCharts.com on Vimeo.


Good trading,
Greg Schnell, CMT, MFTA
Author of Stock Charts for Dummies (Pre-order now, available January 2018) Amazon.com
Author of Stock Charts for Dummies (Pre-order now, available January 2018) Amazon.ca

Commodities Countdown Video Recording With Greg Schnell 2017-11-09

The Commodities Countdown Video Recording With Greg Schnell 2017-11-09 is now available.

Commodities Countdown Video With Greg Schnell 2017-11-09 from StockCharts.com on Vimeo.

If you would like more commodity related stories, check out the entire Commodities Countdown blog. There are also some tips on scanning and breadth in October 2017.

Good trading,
Greg Schnell, CMT, MFTA
Author of Stock Charts for Dummies (Pre-order now, available January 2018) Amazon.com
Author of Stock Charts for Dummies (Pre-order now, available January 2018) Amazon.ca