• 747 days Will The ECB Continue To Hike Rates?
  • 747 days Forbes: Aramco Remains Largest Company In The Middle East
  • 749 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,149 days Could Crypto Overtake Traditional Investment?
  • 1,154 days Americans Still Quitting Jobs At Record Pace
  • 1,155 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,159 days Is The Dollar Too Strong?
  • 1,159 days Big Tech Disappoints Investors on Earnings Calls
  • 1,160 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,161 days China Is Quietly Trying To Distance Itself From Russia
  • 1,162 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,166 days Crypto Investors Won Big In 2021
  • 1,166 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,167 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,169 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,169 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,173 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,174 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,174 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,176 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

A Brief Look at Commodities

Excerpted from the March 7th edition of Notes From the Rabbit Hole

The chart of WTI crude oil is very interesting to we bottom feeders. WTIC is on the verge of confirming a new uptrend and in fact, the break above the moving averages (green box) has held for three days. This is bullish. Next resistance levels are noted.

Interestingly, the XOI oil index is not leading and could be considered a bearish divergence. Either that or the oil stocks are in the process of holding support for a double bottom. Despite the bearish divergence, energy stocks could prove to be leaders at whatever point the broad market bottoms. NFTRH is only interested in relative strength leaders at whatever point the time is right to become temporarily bullish.

Copper has bottomed and is attempting to hold a break above resistance. Again, this is a very delectable chart to the bottom feeder. These bullish sentinels argue that there may be life yet in an inflationary world, although right now we cannot read anything more into these bottoms than temporary relief.

In what is likely to one day degenerate into a global war for resources and capital, the time has come to begin watching these commodities closely, now that the former commodity bull herd is obsessed with deflation. This is how the markets work my friends.

 

Back to homepage

Leave a comment

Leave a comment