Wednesday, March 25, 2009

Wednesday Commodities Round-Up



Notice the following on the agricultural prices chart

-- Prices are consolidating in a triangle consolidation pattern, and have been for between 4-5 months

-- Prices and the SMAs are still in a tight pattern, indicating overall indecision

-- The MACD is rising

-- The RSI is sort of rising, but it's not as strong as we'd like to see

-- There's upward room for the stochastics.


Notice the following on the industrial metals chart:

-- Prices have been consolidating since the end of last year

-- Prices and the SMAs are still in a tight range, indicating indecision

-- The MACD is rising

-- The RSI is rising

-- There's a touch of upward room left on the stochastics

Bottom line: both charts are still consolidating.