Category Archives: Commodities

Copper Breaks Through Major Support

By -

The following Weekly chart of Copper shows that price has broken below a major support level of 2.5517 (confluence of Fibonacci Retracement, Fibonacci Fanlines, and downtrending channel) and is hovering above price support level of 2.385.

Failure to reclaim and hold above what is now major resistance at 2.5517 and a drop and hold below 2.385 could see Copper plunging to 2008 lows of 1.255.

Never a Straighter Line

By -

We all crave a market that trends persistently. Over the past six years, with all the insane interventions going on around the world, it’s tough to secure a trend (particularly on the short side) that lasts more than a couple of trading sessions. But stand back, everyone, and take note of what commodities have done consistently for over FIVE MONTHS.


One can only imagine the billions of dollars lost along the way by people trying to “buy the dip”. It does my heart good to see so many bulls getting blown up. At least there’s one segment of the global economy where bears dominate. God bless them.

The Endless Slide

By -

Enough time has passed that I wanted to mention an idea I gave my Slope Plus subscribers back on November 21st. I wrote, in part, “USO did a perfect gap-fill at 29.08. I shorted some crude oil right here, since this is an extremely clean stop.” My stop was too tight (by a few pennies), but my readers have been warned of that many times, so I re-entered the short afterward. In any case, the gap is noted with the green arrow, and the post was written at the red arrow.


Even I remain stunned how far, and how fast, crude oil is collapsing. The prospect of oil heading to, say, $35 per barrel seems totally plausible to me. At least we have one unmanipulated market that illustrates that, under the fake surface, the world economy isn’t doing so hot.

Macro & Micro Views of World Markets, Commodities, & Currencies

By -

I’m showing a comparison, in graph format, of the percentages gained/lost of a variety of world market indices, commodities, currencies, and U.S. ETFs.

The first graph in each category shows the percentages gained/lost from March 2, 2009 to November 13, 2014.

The second graph in each category shows the percentages gained/lost Year-to-Date.

U.S. Major Indices