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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (59274)	5/18/2024 7:47:42 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69148

Natural gas moving up, but about to hit a strong resistance level. The rally in natural gas is early as cooling season has not started yet. Is this speculation on AI electricity demand??? Cooper is at a 52 week high. Is this a short term supply issues due to the lack of new reserves? The economic conditions do not seem to support an expansion right now based on EV demand and housing starts which are muted to down. Timber following copper now in reaching a 52 week high. Some traders are betting on the economy going into an expansion phase. This may be a case of if the technicals do not match the fundamental believe the technicals!!! Interesting platinum at a 52 week high even as automobile demand is muted. Another indicator of an expanding economy down the road???? Energy is chaotic. Short term sell signal. Intermediate up trend. Long term sideways trend. Gold setting new 52 week high on Friday. A follow through day on Monday triggers a new buy signal. Silver confirming the breakout to a new high on Friday. Expect the uptrend to continue. Watch gold. Someone made the point the the ratio of silver to gold is out of whack. Silver could get to $50 per ounce to resolve the imbalance. USD back to $1.04 support level. Traders want a stable dollar to not spook the international markets. A lot of traders seem to buying into the theme of a commodity super cycle. It seems less due to an increase in demand so much as a limitation of reserves or shipping capacity. Be careful in this environment.