Tagged: commodities

Weakness developing in commodities 0

Weakness developing in commodities

Checking the 15-min bar chart, copper and oil are not looking too spirited. Here’s oil: – And copper, same scale: – And of course platinum and palladium are looking busted. Daily charts here. Platinum:...

Another copper top? 0

Another copper top?

A downsloping RSI line in copper has put the brakes on earlier rally legs. The market is bumping up against it again. Keep in mind that downsloping RSI patterns like this indicate an aging...

Commodities running out of steam. 0

Commodities running out of steam.

The trend was smartly broken back in January, and now this bounce looks like it’s exhausting right about where the old support line would be. These are the various popular commodity indexes, from Bloomberg:...

Short-term strength in copper? 0

Short-term strength in copper?

Nothing to do with the earthquake of course — by late Monday, Sunday night’s spike was retraced to where copper closed on Friday, once traders calmed down and actually read the news reports that...