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
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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