Daily Commodity Chart Wrap

Daily Commodity Chart Wrap 3/25/2015:

 

WTI Crude Oil (Daily)

WTI_Crude_Oil_3.25.2015

Front month crude oil futures rally as options implied volatility begins to collapse and the futures contango narrows.

 

OVX (CBOE Crude Oil Volatility Index) 

OVX_Daily_3.25.2015

 

CME WTI Crude Oil futures curve

Futures_Curve

 

Gold rallied for the 6th consecutive trading session. Meanwhile, the yellow metal is approaching an area of confluence near $1200-$1205 that could potentially provide resistance:

Gold_Daily_3.25.2015

 

10-year Treasury Note Yield (Daily)

TNX_Daily_3.25.2015

As gold approaches potential resistance Treasury yields are poised to bounce. The yield on the 10-year note has falled 40 basis points in the last few weeks and bounced off the lower 2-standard deviation Bollinger band today. As noted above during the past couple of months the Bollinger bands have been meaningful in highlighting inflection points in Treasury yields.