Commodity Markets

Commodity Weekly December 10, 2023

Dec 10, 2023

Thomas Thornton

HIGHLIGHTS AND THEMES

In order to make my life easier, as it takes a considerable time to research and build these notes, I have made all annotations on the charts, and sentiment charts are self-explanatory. In this section, I will give key thoughts on each market.

Energy: No bottom yet with both Crude and Natural Gas. Crude has a little more downside for the DeMark Exhaustion signals.

Metals: Both Gold and Silver reversed last week after reaching extreme sentiment levels while Silver had DeMark Sell Countdown 13s. Copper is holding steady. Platinum and Palladium still do not turn higher.

Grains: Slight reversals up last week, notably with Wheat. It will take more to signal a more durable rally, as we have seen too many false starts.

Livestock: Deep losses with no signs of a bottom, although both Cattle and Hogs are oversold.

Softs: Cotton is in a range still. Coffee should pull back here. Sugar finally pulled back hard and could bounce with a DeMark Setup 9. Cocoa remains the strongest commodity on the upside.

BLOOMBERG COMMODITY INDEX DAILY AND WEEKLY

Bloomberg Commodity Index daily is oversold at downside wave 5. No signals to indicate a potential turn yet.

Bloomberg Commodity Index Weekly

COMMODITY SENTIMENT OVERVIEW

OIL AND ENERGY

Bloomberg Energy Index daily

WTI Crude futures daily

WTI Crude futures bullish sentiment

WTI Crude futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Natural Gas futures daily

Natural Gas futures bullish sentiment

Natural Gas futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Metals

Gold daily

Gold bullish sentiment

Gold futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Silver daily

Silver bullish sentiment

Silver futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Copper futures daily

Copper futures bullish sentiment

Copper futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Platinum daily

Platinum bullish sentiment

Platinum Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Palladium daily

Palladium bullish sentiment

Palladium Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Grains

Corn futures daily

Corn futures bullish sentiment

Corn futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Wheat futures daily

Wheat futures bullish sentiment

Wheat futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Soybean futures daily

Soybean futures bullish sentiment

Soybean futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Livestock

Live Cattle futures daily

Live Cattle futures bullish sentiment

Live Cattle futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Lean Hogs futures daily

Lean Hogs bullish sentiment

Lean Hogs Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Softs

Cotton futures daily

Cotton futures bullish sentiment

Cotton Futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Coffee futures daily

Coffee futures bullish sentiment

Sugar futures daily

Sugar futures bullish sentiment

Sugar futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

Cocoa futures daily

Cocoa futures bullish sentiment

Cocoa futures Commitment of Traders large speculators and weekly DeMark Setup, Sequential, and Combo indicators

DeMark Sequential Basics

DETAILED COMMITMENT OF TRADERS DEFINITIONS