CommodityTrends Weekly Newsletter

Sep Rough Rice has formed both the #1 and #2 top points. I’ll continue watching to see whether the remaining criteria of the 1-2-3 strategy are met.

Dec Soybean Meal has formed a #1 top point and may be close to confirming a #2 point. To confirm the July 30 low as the #2 point, price must form a higher low to its right. For now, I have placed a question mark beneath the July 30 low.

If today’s price action produces a higher low, which we will know after the market closes, the #2 point will be confirmed. The next step would then be to watch for a possible #3 point to develop. Either way, I’ll continue monitoring the setup.

Dec Gold is currently trading near the lower boundary of a large flat-bottom triangle, which is generally considered a bearish chart pattern. More recently, price has also formed a much smaller sideways channel within the larger triangle.

For now, I’ll continue watching to see which direction price breaks from these patterns before considering any action.

Sep 10-Year T-Note has developed confirmed #1 and #2 bottom points. I’ll continue watching to see whether the remaining criteria of the 1-2-3 strategy are met.

At the time of this writing, today’s low is only a tick or so above the current #1 point. If price makes a new low today or in the near future, it would negate the existing #1 point. I would then continue watching for a new #1 bottom point to be confirmed.

Epam Systems Inc (EPAM) has rallied and is now approaching a possible long MET trigger above the June 1 high. I’ll continue watching to see whether the trigger is reached.

There are several resistance levels above the potential entry, along with gaps that formed during this week’s rally. Price may attempt to search out these areas. Therefore, if a trade is triggered, be sure to establish targets and protective stops to help manage risk and protect capital.