Weekend Commodity Chart Wrap

Weekend Commodity Chart Wrap 4/18/2015…

 

Gold with realized volatility (top) and implied volatility (bottom)

Gold_Volatility

Both realized and implied gold volatility have been in decline since the beginning of the year. The GVZ (CBOE Gold Volatility Index) is currently pricing in barely more than a 4% move over the next 30 days….

 

Gold 30-day implied move using GLD options pricing

Gold_Implied_Move

The implied range for gold over the next 30 days using the GVZ is $1154-$1254.

 

Lumber fell hard to fresh multi-year lows last week…

Lumber

A sign of an impending slowdown in housing?

 

Platinum (Daily)

Platinum_4.18.2015

The platinum chart looks quite constructive; a breakout above the $1180-$1190 would target a move to $1250+

 

WTI Crude Oil (Daily)

WTI_Daily_4.18.2015

West Texas crude finally broke out above the $54 resistance level last week. The measured move target for this breakout is $61+ and $54 now becomes support.