highlights and themes
The hopes for lower commodity prices for the August CPI are at risk, with many commodities reemerging higher. Energy is the big focus for everyone looking at inflation. Natural Gas looks like it could make a new high while crude and gasoline futures are off their lows and are having trouble getting through the 20-day moving average. Metals ex silver look good as long ideas, although Gold tends to disappoint, failing to break out several times in the last year. Sugar, cotton, wheat, and corn are decent-looking long ideas. I have liked for weeks sugar and wheat. The risk is the bounce in progress will be another lower high corrective move.
BLOOMBERG COMMODITY INDEX DAILY AND WEEKLY
Bloomberg Commodity Index daily with a lower high wave developing?
Bloomberg Commodity Index Weekly
COMMODITY SENTIMENT OVERVIEW
OIL AND ENERGY
Bloomberg Energy Subindex has the upside Sequential in progress. A move over the recent high would increase my conviction.
WTI Crude futures daily having problems at the 20 day moving average again
Brent Crude futures daily
WTI Crude futures bullish sentiment held the 50% level and at the 20 day moving average of sentiment like the price action
WTI Crude futures Commitment of Traders
Natural Gas futures daily has the potential to move to new highs with the Sequential in progress
Natural Gas futures bullish sentiment has made a lower high yet remains in the extreme zone
Natural Gas futures Commitment of Traders
Gasoline futures RBOB Daily is stuck at the 20 day moving average and off the recent lows
Gasoline Commitment of Traders
Metals
Gold futures daily has the potential to trend higher with the Sequential in progress however it remains in corrective lower high wave 4 of 5
Gold futures bullish sentiment still lacking upside momentum
Gold futures Commitment of Traders
Silver futures daily
Silver Bullish Sentiment stalled like Gold
Silver futures Commitment of Traders
Copper futures daily also has an upside DeMark Sequential in progress
Copper futures bullish sentiment spiking with strong momentum
Copper futures Commitment of Traders
Platinum daily has a DeMark Sequential in progress
Platinum bullish sentiment improving
Platinum Commitment of Traders
Palladium daily with a long base and DeMark Sequential in progress
Palladium bullish sentiment has been stronger than price
Palladium Commitment of Traders
Grains
Corn futures daily has a DeMark Sequential pending however this upside move with the Setup on day 6 of 9 looks positive
Corn futures bullish sentiment improving with strong momentum
Corn futures Commitment of Traders
Wheat futures daily has a DeMark Sequential in progress and needs upside momentum to kick in
Wheat futures bullish sentiment trying to make a move over 50%
Wheat futures Commitment of Traders
Soybean futures daily with a higher low and needs to clear 1500
Soybean futures bullish sentiment improving
Soybean futures Commitment of Traders
Livestock
Cattle futures daily still below the peak in April drifting higher
Cattle futures bullish sentiment has not moved like price
Cattle futures Commitment of Traders
Lean Hogs futures daily did not get the reaction lower after the Sequential 13 yet
Lean Hogs bullish sentiment slipping after making extreme readings over 90%
Lean Hogs Commitment of Traders
Softs
Cotton futures daily has a pending Sequential however, the spike on day 6 of 9 could complete this week, canceling the pending Sequential Countdown
Cotton futures bullish sentiment spiked wow!
Cotton Futures Commitment of Traders
Coffee futures daily
Coffee futures bullish sentiment needs more momentum over 50%
Sugar futures daily has been one I have liked on the long side and believe this can continue
Sugar futures bullish sentiment nearing the high end of the recent high in sentiment
Sugar futures Commitment of Traders
Cocoa futures daily
Cocoa futures bullish sentiment remains under pressure
Cocoa futures Commitment of Traders
Lumber futures daily still has risk lower with the Sequential and lower high
Lumber bullish sentiment stalled and typically this runs from lows to highs quickly
DeMark Sequential Basics
MORE DETAILED COMMITMENT OF TRADERS DEFINITIONS
