Commodity – Related Charts
I have just gone through lots of longer-term charts. This is not my (Volar’s) usual stuff. Just something I have been doing since late last night.
None of these are useful in the short-run, but keep them in the back of your mind going forward. Very straightforward TA here.
GSCI spot futures
What is my point??? All of these are tied in some form to commodities; moreover, have been highly correlated to the risk trades.
In TA, sometimes people over-think things. When all the high-beta crap starts to make lower highs, a traders should be patient cautions on a directional bias.
Dont get too excited, this could be consolidation before some big up move that screws the bears, but one must consider that much market optimism has stemmed from the global outlook and not the US jobs market.
Good luck trading,