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