Long
COMG-Canary in the coal mine -LONG idea
2:1 odds on this using price pivots on the lower boundary ($20), 3:1 if using a stop at $20.74. Target $25-26 with good risk reward given we are south on the screen, a price above $23 breaks the right side of the cup formation pattern and is bullish
Fundamental: grinding on of trade uncertainty => supply uncertainties => companies shrinking inventories and decreasing production
combined with natural disasters, political turmoil and a weak U.S. dollar =
inability to withstand ANY SORT of supply line shocks which will be met with SUPER demand
The time is ripe to allocate with commodities position, any energy, metals, food commodities etfs
Risk: trade deal
Currently, the COMB Benchmark consists of 23 commodities futures contracts with respect to 21 commodities: aluminum, coffee, copper, corn, cotton, crude oil (WTI and Brent), gold, ULS Diesel, lean hogs, live cattle, low sulfur gas oil, natural gas, nickel, silver, soybean meal, soybean oil, soybeans, sugar, unleaded gas, wheat (Chicago and KC HRW), and zinc. The COMB Benchmark reflects the return from these commodity futures contracts.
Fundamental: grinding on of trade uncertainty => supply uncertainties => companies shrinking inventories and decreasing production
combined with natural disasters, political turmoil and a weak U.S. dollar =
inability to withstand ANY SORT of supply line shocks which will be met with SUPER demand
The time is ripe to allocate with commodities position, any energy, metals, food commodities etfs
Risk: trade deal
Currently, the COMB Benchmark consists of 23 commodities futures contracts with respect to 21 commodities: aluminum, coffee, copper, corn, cotton, crude oil (WTI and Brent), gold, ULS Diesel, lean hogs, live cattle, low sulfur gas oil, natural gas, nickel, silver, soybean meal, soybean oil, soybeans, sugar, unleaded gas, wheat (Chicago and KC HRW), and zinc. The COMB Benchmark reflects the return from these commodity futures contracts.
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