Ryan_Gorman

Ryan_Gorman

The soybean market has been under significant selling pressure since the August highs, breaking through some strong support pockets. Looking back to January of 2022, the market started to breakout to the upside, and we are now trading right near that breakout level after holding support very well, and the market is trying to push higher to finish out this week....

Ryan_Gorman

Cotton has been in a nice uptrend since the lows back in June, and although we have seen some chop recently, we are still trading in this wedge with defined support and resistance. Looking more at the technical side, Cotton broke out of a bearish trend on September 28th, and is looking strong as we are entering Q4. Old Resistance, new support: Looking at this...

Ryan_Gorman

The Silver market is a mixed bag, and there are several ways traders are looking at this market. The precious metals complex has been under recent pressure with the rising dollar and rising treasury yields, and Silver is nearing the make it or break it point with some of the weakness we have seen this week. Good News: With the negative price action the market has...

Ryan_Gorman

The precious metals complex has been under pressure since the April highs for several reasons. For one, the dollar has been on the rise, and typically when the dollar is ripping higher the precious metals will take a hit to the downside. Also, treasury yields have also been ripping higher adding to the bear case for the metals. Looking at the chart on a weekly...

Ryan_Gorman

When analyzing a market and looking for critical levels and directional movements, trades will have to back track over a longer period to see where we had key breakout and key breakdown points. Looking at Russell 2000, we have seen significant swings in this pocket since May of 2022, and we are now trading lower and looking to test some key levels. Overhead...

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The natural Gas market has been chopping around since we carved out a low in February of 2023, but has been overall trending higher and holding out above critical trendline support. Looking at the price action, it has proven tough to hold contracts for the long term as there is so much volatility involved, but there are some KEY levels to watch to try and...

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We have entered another critical two-week stretch, this one characterized by U.S. CPI Wednesday, Quadruple Witching Friday, and the Federal Reserve’s policy decision next Wednesday. Risk assets are firm after tailwinds came from stronger-than-expected New Loans data from China Sunday night, and we have seen some selling Tuesday ahead of CPI. Still, the 10-year...

Ryan_Gorman

Last week, Gold showed some great strength and finished higher on the week after bouncing off some good trendline support, and this week we have seen the market selling off back towards the low of last week right near 1940. Gold is trading in this range now, and it seems the bears are in control for the time being as there is not a strong fundamental reason for...

Ryan_Gorman

The November soybean market has been on a nice uptrend since the lows from August 8th, and we are seeing some selling coming after we topped out near 1409-5. Looking on the fundamental side, there is concerns for the continued hot and dry weather headed into next week which would support higher process, and the Mississippi water levels continue to decline, having...

Ryan_Gorman

The precious metals complex received a nice boost off the weaker than expected Jolts and consumer confidence on Tuesday, and we have ADP coming on Wednesday that is expected to come in at 195,000. We are expecting this number will be a strong catalyst for the market, and if we can see a number higher than expected, we could see the market take a big hit to the...

Ryan_Gorman

Gold and Silver are getting hit to the downside this morning with jobless claims coming in softer than expected, continuing the downtrend for Gold since the highs from May. The Chinese Yuan weakness has been a major headwind for the Gold market since those May highs, but there is some strong support down near these levels at 1907.9 that the bulls will look to...

Ryan_Gorman

Gold and Silver prices have pulled back overnight with strong weakness in the Yen, bringing down the whole precious metals complex. As we are pushing through the morning, Gold did catch some support right near the May low at 1936, and we have seen a slight pop in the metals coming off the stronger than expected initial jobless claims, and they are looking to undo...

Ryan_Gorman

The Platinum market has been under pressure and has seen some strong selling from the April highs at 1148.9. With the potential supply surge in the palladium market, there are stronger concerns that Platinum will be dragged down as well. On the technical side, we are seeing a nice inverse head and shoulders that would indicate prices shifting to the upside, and...

Ryan_Gorman

Crude Oil getting hit to the downside in the over night session, and the selling is continuing this morning with prices trading right near the psychologically significant 68.00 level. The main spark of the selling was Goldman stepping in and revising their price target for Brent Crude to$86, down from $95. There is strong support in this August contract at 67.86,...

Ryan_Gorman

We have seen incredible strength from the S&P since the October lows, rallying near 20% from those levels and is now officially in a bull market, though we have been calling this since late August. There is strong overhead resistance identified as 4303-4309, and a break and close above there would add more strength and can really send prices higher. Heading into...

Ryan_Gorman

December Corn has had a nice recovery off the lows from May near 490'6, and now are looking to test what was old support and is now new resistance. A rejection here can send the markets lower and potentially look to test the 511 area, but a close out above the 546 level could be the strong catalyst needed to send these prices higher towards 562'6.

Ryan_Gorman

Copper is testing major support going back to the lows from July of 2022. Can we hold here and get a nice bounce or will we see a breakdown?

Ryan_Gorman

Gold has been on a tear since the March lows, where we saw a bit of a double bottom, and have rallied out above the significant resistance level near 2000-2003. As we’re seeing Crude oil rip higher here today up over $4, there could be implications with the FED and their assumed rate hikes, and after this move in Crude, the probability of a 25 basis point rate...