Wealth Creation Through Natural Resources
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 3/25/2015: WTI Crude Oil (Daily) Front month crude oil futures rally as options implied volatility begins to collapse and the futures contango narrows. OVX (CBOE Crude Oil Volatility Index) CME WTI Crude Oil … 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
In the last two weeks gold futures speculators have liquidated a total of 66,897 gold futures contracts which equates to a notional amount of nearly $8 billion: To put this recent gold liquidation into perspective it is the largest … Continued
I have not kept it a secret that I have been looking for a marginal new low in WTI crude to wash out weak handed bulls followed by a violent upside reversal. Today this scenario happened in a most unexpected … Continued
The following tweet from @BobBrinker sums up today’s FOMC announcement quite nicely: The Fed lowered its 2015 PCE inflation forecast to a range of .6%-.8% from a previous range of 1.0%-1.6% and also lowered its 2015 GDP growth forecast to … Continued
The CFTC Commitments of Traders gold report for Tuesday March 10, 2015 is a curious one to say the least. While we saw a roughly $4 billion liquidation of net long exposure by large speculators (to the smallest net long … Continued
We’ve written on this topic before and I am compelled to make this point again, even more emphatically. While persistent deflationary conditions that last for years are certainly not bullish for gold, the threat of deflation IS actually bullish for gold. … Continued
The only story that matters across global financial markets right now is the parabolic ascent of the US dollar: The implications of what ‘excessive’ US dollar strength could lead to across global financial markets has created a recent environment … Continued
A couple of charts from Dundee Research highlight the relative cheapness of Continental Gold (CNL.TO) shares even after yesterday’s groundbreaking environmental permit approval announcement by its neighbor Red Eagle Mining (RD.V): Continental’s Buriticá project is high-grade and relatively good … Continued