DXZ18 – US dollar index is holding at the 100 day moving average for now and posted a positive candle last night. I think it’s probably more likely that it will hold here and build into another rally.
GCZ18 – Gold is still hanging around the lows near 1200 and the 40 day moving average is now starting to put pressure on the price. Friday’s price action was not good.
KCZ18 – Coffee ran into resistance from the short-term moving average back below 100 again and it really looks like this could go quite a bit lower.
ZWZ18 – Perhaps wheat it is again building towards another move higher as it has broken through the 15 day moving average. It is not convincingly through the 200 day moving average yet though so I’d be slightly hesitant about going long just here.
CCZ18 – Although it was a decent rally from cocoa, rising 3% on Monday’s session the sequence of previous rallies suggest that the price will probably sell off again from here. We are slowly headed down towards 2100 it would seem so perhaps a good location to sell from.
SBV18 – This looks to be moving towards 0.1000, I sold another unit at 0.1057 last night so it was a nice turnaround from a trade I thought was going to get stopped out.
HGZ18 – Copper looks like it’s running out of steam but I’m not ready to go short just yet as too many times I thought the rally was over only for the price to make one more high, take out my stop and then drop off.
ZSX18 – Soybeans looks like it’s fading again and I wouldn’t be surprised if it tried to make a new low this time but it’s not really a good risk/reward given it will probably find support at 826 and the market is currently at 841 with a previous high at 852.
ZMZ18 – similar to Soybeans I think Meal is headed lower and also would not take a trade on it at the moment because it’s not really a good risk/reward.
ZOZ18 – stopped out of this last night at 254. Glad I got out of the way, it looks like it is heading quite a bit higher.
RSX18 – the price is stilling at 490 and perhaps another test of 485 is due shortly. It’s probably not a bad risk reward just here, stop above 490 after having made the high and now targeting the downside at 485 minimum.