Commodity markets appear to have put in a significant low on June 22nd, right into the crude oil low and also in line with the first day of summer.
In last night’s edition of Swing Trader’s Insight I labeled the coffee futures as a (Taylor Trading) Buy day, and I reiterated this call in this morning’s STI watch list. It took a while for the trade to form up but it ended up going well. There were a number of Taylor Trading signals for… Read more.
Consumer spending in the US grew at a 0.3% rate in the first quarter, the smallest increase since the fourth quarter of 2009.
While the inevitable happened in the March FOMC meeting, the reaction in the dollar was very surprising and was modestly supportive to a number of commodities.
Coffee futures had a breakout setup for Monday. It ended up having a smaller range on Monday and it was a doji bar as well so the breakout setup carried over to Tuesday. The result was a big range move today. Coffee is one of my favorite markets for breakout trades so on Monday… Read more.
On Thursday afternoon 1/26, we pinpointed getting SHORT this market if we broke below the 151.00 area (view that video if needed) “Nothing like a Coffee trade on a Friday!”
As we mentioned several weeks ago, the steady rise in interest rates is soon to become an issue for a number of markets.
We highlighted the BEARISH ENGULFING candlestick on Tuesday. The Bearish Engulfing Formation is #11 in my new candlestick guide. So what is it? More importantly, how do you trade it? What other formations should you have in your arsenal?
There is a BEARISH ENGULFING candlestick formation possible in the COFFEE market if we close below yesterday’s open of 170.00 …So what is it? More importantly, how do you trade it?
A strengthening US dollar and uncertainties in global stock markets have helped to drive some commodity markets lower over the past few weeks, and the possible appearance of a double top in crude oil has many macro-fund traders getting concerned about the outlook ahead.