Quick Color Commodity Charts to Start the Week

Apr 7, 2015: 10:10 AM CST

Yesterday we updated Gold, Oil, the S&P 500, and the US Dollar Index but let’s take a slightly broader perspective and add four more commodity futures charts into the grid to get a fuller picture of money flow across the market landscape as we begin the new week.

First, take a look at Monday’s “Quick-Charting Money Flow” Grid as well as yesterday’s detailed post Reversal Trading Opportunity in Coffee and Crude Oil.

Now, let’s expand the grid to the Color Trend Price Charts:

Oil, Soybeans, Oats, and Corn:

The post today is intended to compare the downtrends – and possible future bullish reversals should they occur – in commodities.

Compare the commodity markets in terms of the early 2015 sharp sell-off/downtrend (in conjunction with the strong US Dollar) and the recent bounce-up off the spike lows in March for most markets.

Gold particularly rebounded sharply higher from its March low as Oats and Soybeans are the weakest markets shown in the grid.

All markets in the grid remain beneath their falling 200 day SMA (red) though Gold is the closet to this key indicator.

Gold, Crude Oil (just today), and Wheat are the only markets in the grid above their falling 50 day EMAs (inflection indicator).

According to the Color Bar algorithm (based on an Average True Range function), Oil, and Gold are the only markets currently on a green/bullish bar.  All other markets in the grid are on white/neutral consolidation bars.

If you’re trading or simply monitoring these markets, continue to assess the downtrend, key moving averages, relation to the prior lows, and of course the related (opposite) movement of the US Dollar Index.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

1 Comment

One Response to “Quick Color Commodity Charts to Start the Week”

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