The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday.
The precious metals and miners continue to attempt to hold consolidations without breaking down. Traders should still have them on watch to see if another leg higher materializes.
But commodities as a whole, after starting off 2014 with a bang, have not impressed this summer, with natural gas and corn particularly disappointing in their downside price action.
If there is to be another commodity rally in 2014, coffee and crude oil appear to be ripe to break higher from their respective weekly chart, orderly consolidations, seen below. Traders should be on watch for signs of emerging strength in JO and USO this week for potential long trades.
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