Gold, Crude, Nat Gas all look interesting

With the U.S. closed today due to President’s Day, we would expect the global equity markets to be quiet. We take a day off from discussing Trade wars, Brexit developments and global economic growth to look at commodities. There are three interesting charts that have us looking to take on risk positions.

Gold, a Minter favorite, has spent time consolidating and is testing the upper end of the recent range at $1325. A close above the $1325 to $1328 area, will inspire us to go long for test of the old highs around $1365.

The UK Crude CFD has experienced a strong bounce and has broken resistance at the 63.75 level and is breaking over the 66 level.  We will wait for a pullback to buy for a test of the 69/70 level.

Natural Gas traded from $2.50 up to $4.60 during Q4, 2108 and has now returned to a strong support level at $2.60.  We look for a bounce and will look to go long if we close near these levels this evening.

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