Monday, October 05, 2009

Commodity Summary

Crude Oil Futures Weekly Chart

Crude oil still refuses to drop. It is clearly forming a ascending triangle and should challenge 75 again.

Gold Futures Weekly Chart

Gold moves up and down the 1000 level for the past few weeks. Will it moves up this time? My supporting evidence is the weekly RSI which is not yet overbought but shows a bullish reading. That is why I'm waiting for gold to move higher. The only problem is that it may not stay up high very long (based on daily chart reading).

The summary for the rest are:
Commodity Monthly Weekly Daily
Gold Up Up Up (+)
Crude Oil Up Neutral Neutral (+)
Crude Palm Oil Down (-) Down Down (-)
Rough Rice Neutral (-) Neutral Down

No comments: