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View the trade opportunities and commodity markets Jim is watching to see where the markets may be headed.
Summary
Top-Down Look at Natural Gas — Made Simple
Natural Gas has been dropping fast! Over the past month, it’s moved down over 23% — which is more than any other market.
That’s why I chose it for this week’s training video. In the video, I perform what’s called a “top-down” look at the market. This simply means I start by looking at the big picture (the monthly chart), then move to the medium picture (the weekly chart), and finally zoom in to the daily chart.
I point out the price areas that matter most and talk about where I think Natural Gas might go next. I also explain what I need to see before I’d feel good about making a trade in this market.
Click here to watch the video. It's a great way for you to learn how to study a market like this. It’s only 7 minutes and 33 seconds long, and I hope you enjoy it!
(You'll need to be logged into the www.commoditytrends.com website to access the video.)
Markets I'm Watching
View the trade opportunities and markets Jim is watching along with the Trend Seeker rating per commodity to see where the market is headed. Here are the markets and opportunities I am watching right now. For more information about these markets, be sure to check My Chart Book and CommodityTrends Daily Video Service.
Grains Market
Jul Rough Rice has produced a new #1 bottom point. Keep watching for all of the 1-2-3 strategy criteria to be met. You can learn more about my 1-2-3 strategy by clicking here. (You must be logged into the commoditytrends.com website to access the material.)
Jul Rough Rice has produced a new #1 bottom point. Keep watching for all of the 1-2-3 strategy criteria to be met. You can learn more about my 1-2-3 strategy by clicking here. (You must be logged into the commoditytrends.com website to access the material.)
Metals Market
Jul High Grade Copper has developed a very large asymmetrical triangle pattern inside of a monthly chart resistance zone (purple rectangle). A break below the April 25 low will trigger an entry to the downside. The initial stop loss can be placed just above the April 23 high. The initial target is the weekly chart support level (gold horizontal line) at 4.6076.
Jul High Grade Copper has developed a very large asymmetrical triangle pattern inside of a monthly chart resistance zone (purple rectangle). A break below the April 25 low will trigger an entry to the downside. The initial stop loss can be placed just above the April 23 high. The initial target is the weekly chart support level (gold horizontal line) at 4.6076.
Energies Market
Jun Natural Gas is trading just above a daily chart support zone. Keep watching for a chart pattern to develop.
Jun Natural Gas is trading just above a daily chart support zone. Keep watching for a chart pattern to develop.
Meats Market
Jun Live Cattle made a new 12-month high this week and in the process has developed a left shoulder and a head of a head and shoulder top formation. Keep watching for a right shoulder to develop.
Jun Live Cattle made a new 12-month high this week and in the process has developed a left shoulder and a head of a head and shoulder top formation. Keep watching for a right shoulder to develop.
Foods/Softs Market
Jul Orange Juice has produced a #1 and #2 bottom point. Keep watching for a #3 point to develop and a possible setup to the upside.
Jul Orange Juice has produced a #1 and #2 bottom point. Keep watching for a #3 point to develop and a possible setup to the upside.