Commodity Markets Summary for Dec 05, 2018


Commodity Markets Technical Analysis Market Overview Report for Dec 05, 2018 | by Techniquant Editorial Team

Highlights

COFFEE finds buyers again around 105.55
CRUDE finds buyers around 52.16 for the third day in a row
SUGAR breaks back above 20-day moving average
NATGAS finds buyers again around 4.404
SILVER breaks back below 50-day moving average
GOLD closes within prior day's range after lackluster session
CORN unable to break through key resistance level
WHEAT runs into sellers again around 522.00

Summary

With five out of the eight Commodity Markets closing lower today, the ones that stand out on the negative side are NATGAS losing -1.44% and COFFEE closing -1.17% lower. On the flipside the best performers have been CRUDE closing 0.59% higher and SUGAR gaining 0.16%.

One of today's most interesting market conditions in the Commodity Markets showed up in NATGAS: Among the five market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Low close to prior low" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for Natural Gas. Out of 614 times, NATGAS closed lower 54.23% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 57.98% with an average market move of -0.30%. Read more

Commodity Markets Overviews

COFFEE 105.95 -1.25 (-1.17%) Moving lower for the 2nd day in a row, COFFEE ended Wednesday at 105.95 losing $1.25 (-1.17%). Today's close at 105.95 marks the lowest recorded closing price since October 1st. Closing below Tuesday's low at 106.00, the market confirmed its breakout through the prior session low after trading up to $0.45 below it intraday. Read more
CRUDE 52.92 0.31 (0.59%) CRUDE ended Wednesday at 52.92 gaining $0.31 (0.59%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more
SUGAR 12.74 0.02 (0.16%) SUGAR ended Wednesday at 12.74 gaining $0.02 (0.16%) on low volume. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
NATGAS 4.447 -0.065 (-1.44%) NATGAS ended Wednesday at 4.447 losing $0.065 (-1.44%). Trading $0.112 higher after the open, Natural Gas was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on November 27th, NATGAS actually gained 10.86% on the following trading day. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Read more
SILVER 1,456.5 -4.0 (-0.27%) SILVER ended Wednesday at 1456.5 edging lower $4.0 (-0.27%) on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more
GOLD 1,242.6 -1.3 (-0.10%) GOLD finished Wednesday at 1242.6 edging lower $1.3 (-0.1%) on low volume. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
CORN 384.75 0.00 (0.00%) CORN finished Wednesday at 384.75 flat on low volume. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session. Read more
WHEAT 518.25 -3.50 (-0.67%) WHEAT finished Wednesday at 518.25 losing $3.50 (-0.67%) on low volume. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more

Detailed Reports

Daily technical analysis candlestick chart for Gold (GOLD) as at Dec 07, 2018
Dec 07, 2018
Daily technical analysis candlestick chart for Wheat (WHEAT) as at Dec 07, 2018
Dec 07, 2018
Daily technical analysis candlestick chart for Henry Hub Natural Gas (NATGAS) as at Dec 07, 2018
Dec 07, 2018
Daily technical analysis candlestick chart for Coffee (COFFEE) as at Dec 07, 2018
Dec 07, 2018
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