nickel Archives - the patient investor

September 3, 2014

Crude and commodities test support

Nymex Light Crude is testing primary support at $92/barrel while 13-week Twiggs Momentum (below zero) warns of a down-trend. Brent Crude is also approaching primary support, at $99/barrel. Breach of support would confirm a down-trend.

Nymex WTI Crude

Commodity prices are falling as the Dollar strengthens. Dow Jones UBS Commodity Index is approaching primary support at 122, while 13-week Twiggs Momentum (below zero) again warns of a down-trend. Breach of primary support would confirm.

Dow Jones UBS Commodity Index

Aluminum alloy, however, continues its primary advance.

Alumina

And nickel is likely to follow, having broken resistance at 18500.

Nickel

August 27, 2014

Crude and bulk commodities fall but nickel, aluminum rally

Crude oil prices are falling. Nymex Light Crude is testing primary support at $92/barrel and Brent Crude at $99/barrel. Breach of support would signal a down-trend.

Nymex WTI Crude

Commodity prices remain low, in line with sluggish world trade.

CLSA chart: World Trade vs Commodity Prices pic.twitter.com/o8BpGua7ec

— Market Timing (@Market_Time) August 25, 2014

But that does not tell the full story.

Bulk commodity prices are falling as Chinese construction slows…

Bulk Commodities

…While copper prices recovered above 7000/tonne. Penetration of the declining trendline suggests that the down-trend is slowing. Breakout above 7400 would strengthen the signal.

Copper

And aluminum alloy…

Alumina

…and nickel show surprising strength, signaling an up-trend.

Nickel