Phil_Blue_Line

Phil_Blue_Line

Technical Momentum Strengthens Crude Oil futures are rebounding in 2024 after trading above the 200-day moving average at $77.54. The technical perspective shows momentum studies rising from oversold territories, while the 9-day moving average trades below the 18-day. DMI- is slightly above DMI +, indicating that the market is still in a correction phase, while...

Phil_Blue_Line

Technical Momentum Weakens Gold Futures hit an all-time high on May 20th, 2024, at $2,454; since then, they have corrected and consolidated. From a long-term perspective, futures give us a mixed signal, recently dropping below the 50-DMA at $2,373 but remaining well above the 200-DMA at $2,153. The technical perspective shows momentum studies decreasing, with...

Phil_Blue_Line

Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting to the 200-day moving average at $77.55. The technical perspective shows momentum studies recovering from oversold territories, while the 9-day moving average is trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...

Phil_Blue_Line

Technical Momentum Strengthens Gold Futures hit an all-time high in 2024 at $2,454 on the June futures contract on May 20th. Since then, futures have corrected; however, gold remains firmly above the rising 50-day moving average at $2,332 and well above the 200-day moving average at $2111. The technical perspective shows momentum studies increasing, with the...

Phil_Blue_Line

Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.94. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...

Phil_Blue_Line

Technical Momentum Strengthens Gold Futures hit an all-time high in 2024 at $2,448 on the June futures contract on April 12. Since then, futures have corrected; however, gold remains firmly above the rising 50-day moving average at $2,294 and well above the 200-day moving average at $2101. The technical perspective shows momentum studies increasing, with the...

Phil_Blue_Line

Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.94. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...

Phil_Blue_Line

Technical Momentum Strengthens Gold Futures hit an all-time high in 2024 at $2,448 on the June futures contract on April 12. Since then, futures have corrected; however, gold remains firmly above the rising 50-day moving average at $2,294 and well above the 200-day moving average at $2101. The technical perspective shows momentum studies increasing, with the...

Phil_Blue_Line

Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 200-day moving average at $77.88. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...

Phil_Blue_Line

Technical Momentum Weakens Gold Futures hit an all-time high in 2024 at $2,448 on the June futures contract on April 12. Since then, futures have corrected; however, gold remains firmly above the rising 50-day moving average at $2,269 and well above the 200-day moving average at $2094. The technical perspective shows momentum studies declining, with the 9-day...

Phil_Blue_Line

Technical Momentum Weakens Gold Futures hit an all-time high in 2024 at $2,448 on the June futures contract on April 12. Since then, futures have corrected; however, gold remains firmly above the rising 50-day moving average at $2,244 and well above the 200-day moving average at $2088. The technical perspective shows momentum studies declining, with the 9-day...

Phil_Blue_Line

Technical Momentum Weakens Crude Oil futures are declining in 2024 after correcting down to the 50-day moving average at $80.72. The technical perspective shows momentum studies declining into oversold territories, with the 9-day moving average trading below the 18-day. DMI- is above DMI +, indicating that the market is in a correction phase, while the Average...

Phil_Blue_Line

Precious Metals have softened recently after continued liquidation, stop-loss selling, and de-grossing pushed Gold futures down to a value zone of $2300/oz on the June futures contract. Since then, bargain hunters have stepped in, driving futures $30 off their lows. The potential for a strong recovery in gold is on the horizon, especially if miners strengthen and...

Phil_Blue_Line

Technical Momentum Strengthens Gold Futures hit an all-time high in 2024 at $2,448 on the June futures contract on April 12. Futures remain firmly above the rising 50-day Moving average at $2,184 and well above the 200-day Moving Average at $2,072. The technical perspective shows momentum studies accelerating, with the 9-day moving average gaining momentum above...

Phil_Blue_Line

Technical Momentum Weakens Crude Oil futures have stalled after rising in 2024 after trading at the upper price band of $88/barrel and lower price band of $84/barrel. The technical perspective shows momentum studies correcting from overbought territories, with the 9-day moving average stalling above 18-day. DMI + is narrowing in on DMI -, indicating that the...

Phil_Blue_Line

The commodities space is thriving thanks to the positive influence of geopolitics, central bank buying, a surge in manufacturing, and a robust economy. These factors have ignited a widespread rally in the precious metals space, painting a promising picture for investors and traders. Today, we are eagerly awaiting the release of the March CPI print, a crucial...

Phil_Blue_Line

How will you capitalize when Gold is up $500 on a Sunday night? I am not looking for an answer; we futures traders think about it. Gold futures this week reached new all-time highs as anxiety surrounding an escalation between Israel and Iran (OPEC member) pushed the CRB index to its highest level since October as the raw materials basket entered the new bullish...

Phil_Blue_Line

One of the most widely discussed precious metals that has been a sleeper all year (-2.5 %) looks like it is finally waking up again. Silver futures have oftentimes been at the forefront of controversy after multiple failed short squeezes and a series of lower highs and lower lows. Traders often remember the good old days when prices exploded to $50 only to see...