Wealth Creation Through Natural Resources
After a promising start to the year copper has been in a steady downtrend since May and the red metal has just touched the rising 200-month simple moving average for the first time since late-2008: While it is true that … Continued
The most widely followed commodities index, the CRB (Reuters/Jefferies Commodities Index), closed below its 2009 Global Financial Crisis low last week: (The CRB closed even lower today due to declines in crude oil and copper) An interesting excerpt from a … Continued
Many major commodities such as copper and crude oil made important lows during January (while crude made a marginal new low in March, it’s clear that January marked a major momentum and sentiment low for black gold). It’s been four months … Continued
Daily commodity chart wrap 4/1/2015: Copper (Daily) Clean bull flag in copper with a hammer candlestick off support today. Breakout above $2.80 targets $2.95-$3.05 resistance zone. Gold (Daily) Incredibly bullish trading session for gold today. $1205 offers some … Continued
Daily Commodity Chart Wrap 3/23/2015: Copper (Daily) Copper has rebounded nearly 10% in just the past few trading sessions. Price is now testing a cluster of previous support $2.75-$2.80. Above $2.80 the next area of resistance will be $2.95-$3.00. … Continued
One of the most well known fallen angels of the junior resource sector, Copper Fox Metals (CUU.V), is on the move today jumping as much as 44% on speculation of a takeover following a meeting with its partner on its … Continued
Daily Commodity Chart Wrap 3/9/2015: Copper Marginal Cost Percentiles The 90th percentile cost of producing copper is currently roughly $2.25/lb, it’s interesting that this level also coincides with the 200-month moving average (the same moving average where copper found … Continued
Daily Commodity Chart Wrap 2/26/2015: Brent Crude Oil (Daily) Brent crude remains in an uptrend above $60. Copper (Daily) Very impressive move in copper today as it surged above the falling 50-day simple moving average. Previous … Continued
Daily Commodity Chart Wrap 2/25/2015: Copper (Daily) Copper is testing an important confluence level ($2.67-$2.68). The next couple of sessions will be crucial in determining whether the February rally is simply a dead-cat bounce or something more substantial. … Continued
Morgan Stanley is out with some interesting research this morning highlighting the strong positive correlation between copper and oil prices: Aside from the fact that both commodities are greatly affected by global economic growth there is another important factor as … Continued