Ryan_Gorman

Ryan_Gorman

The Platinum market rebounded nicely off the inverse head and shoulders pattern from the lows on July 14th, climbing through resistance and getting stuck right at the 200-day moving average. The market was near overbought levels, and the recent strength in the dollar has pushed Platinum back to old resistance, which will now act as a support pocket. If there is...

Ryan_Gorman

October Sugar has been climbing off the August 1st lows after the collapse we saw from July 18th highs near the 19.50 level. Overall, the market has been trending lower with lower highs and lower lows and has pivoted to the downside again after testing strong resistance near the 200-day moving average and the .382 retracement level. There is also a nice trend line...

Ryan_Gorman

The cocoa market, along with many of the softs, is gaining some steam as inflation levels seem to be turning around. The September contract broke its downtrend going back to April of this year and pushed through the 50-day moving average. As inflation looks to be cooling, Cocoa could look to extend gains and test some resistance near the 2464 level, where there...

Ryan_Gorman

The cotton market was in a steady up-trend for most of the first half of 2022 and broke down sharply from overbought levels. Since the low in mid-July, we have seen a nice rebound off an inverse head and shoulders pattern, and we have continued higher through some critical resistance levels. The market is now testing the 50-day and the 200-day moving average as...

Ryan_Gorman

The gold market has been in a down trend since the highs we saw in in early March as the dollar has been melting to the upside. As the dollar has started to trend down, we have seen a nice bump in the Gold market, and we passed through some strong trendline resistance. Gold is testing the 50-day moving average, and if we can see the market push through this level...

Ryan_Gorman

Many are considering the Fed actions as a pivot, but the Fed could look to to continue to tighten policy and maintain a hawkish approach. The 30-year bond futures have been in a steady uptrend going back to 1999, holding strong trendline support, until April when we saw a break below the trendline. This week, we are looking to back-test this breakdown level which...

Ryan_Gorman

The Palladium market has been in a downtrend since the highs seen back in early March of this year. We saw a break above the 50-day moving average, and now the market is approaching some strong technical resistance coming from the trendline and the 200-day moving average. With this tightening range, if the market breaks to the upside, we could see a push toward...

Ryan_Gorman

Since the May 17th highs, we have seen December Cotton in a downtrend. Looking at the formation of a head and shoulders pattern, there was a breakdown below support at 117.96, and prices have continued to grind lower. With the market currently right near the 200-day moving average, and the RSI indicating we are in oversold territory, there could be a nice rebound...

Ryan_Gorman

October Sugar is testing some strong technical points after being in a downtrend the past few weeks, following the negative outlook of outside markets. Looking back to July of 2021, there is strong trendline support the market has been able to hold, and a break below here could be a catalyst for added selling. With India reporting a cut in exports for the year...

Ryan_Gorman

Since the highs in early March, Copper was stuck in a downtrend with a series of lower highs, but is starting to repair some of the technical damage that was done. The July Copper contract broke out off an inverse head and shoulders pattern on June 2nd but stalled out and reversed off resistance near 4.57, which was previously support and the breakdown point from...