Global commodity markets are trading in very disjointed fashion, with huge divergence within the soft commodity markets, some precious metals easily holding higher while others are testing support, and resource commodities now starting to look overweight on speculative interest.
Unlike the regular use of commodity markets, that historically hedge forward commitments on global growth or contraction, the increase in speculative use of commodity markets to hedge dollar manipulation and regional civil unrest will now start to create volatility on an intraday basis. Tests of upside resistance are now weak and are not holding as easily as they have done previously.
Gold bullion futures trade continues its 12-session sideways crawl, that has main support at 1400 and major resistance at 1450. Trend, momentum, sentiment, and price action reads are all confirming that fair value has been found on gold, with one or two 30-minute periods of trade each day containing most
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Kasey Chambers Megan Ewing Kristanna Loken Aubrey ODay Drew Barrymore
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