CRB Index - Is sitting just on top of very important support at 294.00 and break below here (close below) will call for the next serious decline towards the 247 - 249 area on the way below the ending point of wave [A] at 200 longer term.
Gold - The big question here is still whether we have seen a major long term top at 1,920 (Wave V) or it just wave wave 3 of 5 of V. The jury is still out there and we will have to wait for the confirmation, but if we are looking at wave 4 of 5 of V my best bet is, that a triangle is forming at we should see a rally higher towards the 1,700 - 1,720 area as wave D of the triangle.
A close below the red trend-line at 1,625 will damage the triangle scenario, but only a break below 1,521 will kill the triangle all together and call for a much bigger decline.
Silver - Is still under immense pressure after its run-away top at 49.51 and I still looking for this correction to takes us towards strong support near 21.50. For now the focus should be towards support near 26.00, but longer term I do expect it to break for a decline towards 21.50.
Copper - The big picture is still dominated by the possible big S/H/S top, but we need a break below the neck-line support near 315 to activate the formation for a decline to at least 224, but longer term we should see the long term support near 160 tested.
Natural Gas - Might finally be bottoming. Yesterday we saw the first close above the resistance-line back from November 2011. Pin-pointing the bottom has not been easy, but it never is. However we knew that the indicators was flashing triple divergence and we was in the support area between 1.83 - 1.96. The low until now has been 1.90 just 6 small from the ideal 1.96 target.
The next indication that an important bottom is in place will be a break above 2.03, which would call for a move towards 2.40 and possibly 2.60, where we will find the next strong resistance.
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