Commodity Markets

Commodity Weekly August 4, 2024

Aug 4, 2024

Thomas Thornton

HIGHLIGHTS AND THEMES

  • Going to keep it brief as I have to redo all of the currency charts with the outsized moves.
  • The Bloomberg Commodity Index continues lower as the global markets sell off
  • In this environment, traders will sell anything not nailed down
  • Energy backed off hard late last week and with the threats from Iran saying they will attack Israel, crude could spike higher. It’s difficult to trade attacks like this because it is unclear that a full scale war is about to break out. Many of the spikes with attacks quickly get sold. Energy is also a space that has economic sensitivity so if economies are slowing fast so will energy usage.
  • Gold has backed off but has been the one commodity with sentiment in the extreme zone
  • More on notes through the week. So much for a slow quiet August.

Comments on charts. If you have questions or would like more context, please email.

BLOOMBERG COMMODITY INDEX DAILY AND WEEKLY

Bloomberg Commodity Index Daily

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

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

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