VIX (CFE VX Nov14) Weekly/Daily/4hr/Hourly The VIX is basing nicely now in the key 15-16 support zone, and is beginning to see some upward momentum in the 4hr and daily charts. Although the weekly chart shows the VIX having broken beneath upchannel support, this break may be a false one, as there hasn’t been muchRead More
Tag: NG_F
Natural Gas Gaps Up Almost 4% With Today’s Open
A number of commodities and FX pairs continued feeling the aftermath of the FOMC-induced USD strength Friday, with silver, gold, WTI Crude, AUDUSD, EURUSD and GBPUSD being among notable casualties. Natural Gas was flattish, while others like Arabica Coffee edged closer towards a tradable bottom. The US equity markets are now above the highs ofRead More
Time to Bargain Hunt after Silver Plunge?
Commodities exhibited a mixed performance yesterday, with some watchlist markets like Natural Gas forging ahead on a new uptrend, while others like Arabica Coffee inched closer towards a tradable bottom. Silver was the worst performer of the day among all of my watchlist markets with it plunging to what appears to be a descending wedgeRead More
Natural Gas (NG) Breaking Downtrend, WTI Crude (CL) Still Bottoming
The FOMC didn’t fail to disappoint those long volatility going into the announcement, and created ample opportunities around many of the markets highlighted yesterday to either intiate new positions, add to existing ones, or to reposition. Watch out for US GDP (quarter over quarter) and unemployment figures today at 830am EST as well as JanetRead More
Sit Tight and Await 2pm EST FOMC
Best to be cautious ahead of today’s FOMC announcement at 2pm EST. There’ll likely be minimal market movement leading up to the FOMC, and it may pay to just take the day off trading (for those who trade intraday), and prepare for the opportunities that await post FOMC. Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly CT providedRead More
Trading Range Tightening on All Markets Ahead of FOMC
This week’s big news event will be the FOMC on Wednesday with the expectation that the Fed’s QE finally coming to an end. Given that US corporate earnings have largely been better than expected, it is highly unlikely that the Fed change its mind on ending QE this month as had previously been suggested. EitherRead More
GBPUSD About to Resume Upside
British Pound Philadelphia Index Weekly The British Pound index continues bottoming on the weekly chart, and should be close to resuming its upside after several days of consolidating. The MACD black line continues moderating in its negative slope, while the RSI and Stochastics climb slowly out of oversold territory. Let’s take a look at theRead More
Cotton (CT) Ready to Resume Upside
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly After yesterday’s late session rally, CT appears like it’s just about finished consolidating, and ready to form a higher low (as seen in the daily chart). On the 4hr chart, CT’s approaching downchannel resistance, but given the rising (or about to be rising) RSI, Stochastics and MACD across the weekly,Read More
WTI Crude (CL) Lagging Other Commodities in Bottoming
AUDUSD Weekly/Daily/4hr/Hourly The AUDUSD pushed higher yesterday and now appears to be on the verge of breaking a symmetrical triangle as seen in the 4hr chart. In the daily chart, AUDUSD is edging towards channel resistance around .8875. The weekly, daily and 4hr RSI, Stochastics and MACD are all bullishly sloping up or about toRead More
AUDUSD, EURUSD about to Resume Rally
AUDUSD Weekly/Daily/4hr/Hourly The AUDUSD continues consolidating nicely around a prior major bottom (as seen in the weekly chart). The .8625 to .8875 sideways channel it currently sits within will likely resolve to the upside in the next session or so as the weekly, daily and 4hr RSI, Stochastics and MACD are all bullishly sloping upRead More