I wanted to try something new today with a bunch of these commodity charts. It’s a stupid little game called “LONG OR SHORT THAT COMMODITY!”
Here’s what you do – look through these charts and support/resistance lines I’ve put up (or you have on your own chart) and decide which chart you would go LONG and SHORT for the next month.
Gold – GLD
Silver – SLV
Sugar – SGG
Coco – CC1600
What’s Your Pick?
Pretty interesting charts lately right! Big moves in a short time frame. So let’s hear which commodities you would go long or short for the next month (without the possibility of exiting) via the comments section below.
Leave A Reply (8 Comments )
Usman
448 days ago
long gold , silver.coco
short sugar
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Kirk - Admin
448 days ago
pull back on COCO first or will it just continue higher?
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Mohammad Shadab
448 days ago
Gold – Long
Silver – Can't say, I will wait for cross the resistance till going to be support and the Short. If not then Short term long.
Sugar – Short
Coco – Long
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Kirk - Admin Reply:
February 25th, 2011 at 1:35 PM
Good point on Silver Mohammad – thanks for the comment!
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Chuck
448 days ago
UUP looks weak over the next week and month, so with a declining dollar I would be careful shorting any commodities. If I had to short one, I would wait a week to short SGG. SGG looks on the uptick for the next week, but flat to down for the next few weeks.
If relative strength, daily/weekly demand, and daily/weekly stochastic provide any clues to the future, then in order of strength I would take the following: COCO, GLD, SLV, and then SGG. COCO is extended now, so entry will be difficult. SLV usually acts like GLD's crazy brother, so SLV is always an exciting ride.
If I had to make a play in the commodity area, I would look for a good entry point into DBC and GLD. They best fit my risk/reward profile.
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Kevin Bantz
448 days ago
All I can say is that silver is moving from a 70º angle to a 90º and those don't last a month. Long the food short the metals, and accumulate natgas.
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Kirk - Admin Reply:
February 28th, 2011 at 6:48 AM
Agreed Kevin…getting pretty parabolic at this point
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Geoge Masiello
448 days ago
Gentlemen,
As long as the Fed buys US treasury debt that no one else with the dollar will lose value and commodities will rise long term. So even if you were stuck for a month in a correction the long is still the way to go on any of them but ag might be best.
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