Via Energy and Gold.com:   Daily Commodity Chart Wrap 3/5/2015: A couple of crude oil charts that demonstrate U.S. production and supply are showing no signs of let up despite a major drop off in rig counts:     We are currently at record levels of US crude oil supply:       Meanwhile, the “golden… Continue Reading

Via Energy and Gold.com: Encouraging comments from Colombian Minister of Mines and Energy Tomas Gonzalez this morning at PDAC sent Continental Gold (CNL.TO) shares soaring 10% before pulling back late in the trading session. Gonzalez stated that Buriticá’s environmental permit could come in May, a couple of months ahead of CNL’s timeline guidance. While government officials tend to… Continue Reading

Via Energy and Gold.com: Realized volatility in gold has dropped by 50% in the last month and is at the lowest levels since last October (just before gold fell nearly $100/oz):  GLD rolling 7-day average true range (ATR) at bottom has fallen 50% in just the last month! The recent range defined by $1190 on… Continue Reading

Via Energy and Gold.com: Not much has been talked about palladium recently, but weak supply growth and strong demand from auto-producing countries has ignited a powerful breakout in this white metal:  The breakout above $820 from a 6-month base initially targets $860 followed by the August 2014 high of $913.  The supply shortfall for palladium… Continue Reading

Via Energy and Gold.com: Tiny Quebec based oil & gas explorer Junex (JNX.V) staged an enormous rally last week which at one point saw its shares higher by more than 150% in just 4 trading sessions: The discovery of a conventional oil play that appears to have substantial exploration upside was enough to embolden investors… Continue Reading

Via Energy and Gold.com: It’s official, the two largest economic zones have moved into deflation and the trend isn’t indicating that things are going to change anytime soon: The euro area deflationary trend has been fairly steady, whereas, the US has seen a sharp spike in the deflationary pull during the past few months. There… Continue Reading

Via Energy and Gold.com: We have highlighted many head & shoulders bottom patterns during the past few months as oil and precious metals stocks have bottomed and begun to turn higher. I want to go into a bit more detail explaining the H&S bottom pattern, some of the theory and psychology behind it, and more… Continue Reading

Via Energy and Gold.com: As WTI crude oil tests an important area of support/resistance near $49 there are some signs that crude prices could ultimately fall below $40 if certain supply conditions remain present. The global crude oil supply/demand balance is very delicate to say the least. The following table from Morgan Stanley highlights just… Continue Reading

Via Energy and Gold.com: The yield on the 10-year US Treasury note has surged 50 basis points in the past few weeks and in turn gold has fallen nearly $100/oz. The negative correlation between yields and gold has been strong for the last 6 years and this correlation has become even stronger in recent weeks:  Since… Continue Reading

Via Energy and Gold.com: While most market participants have been focused on crude oil, natural gas is poised for a powerful upside move over the coming weeks: A fairly impressive rounding bottom pattern has formed during the last month in front month natural gas futures – a breakout above $3.00 would target a move up… Continue Reading

Via Energy and Gold.com: All indications are that we are at a very interesting moment for crude oil. Oil market analysts have been calling for a supply glut during Q2 2015 that would continue to weigh on crude oil prices. However, we are seeing reasons to believe that the supply issues may be overstated and may… Continue Reading

Via Energy and Gold.com: Thus far, front month WTI Crude Oil futures have been unable to breakout above resistance near $54: A further pullback to the $52 area would still keep the uptrend from the January 29th low intact and it’s quite likely, given that it will be at least the 4th attempt in the… Continue Reading

Via Energy and Gold.com: Some market commentators like to post bold headlines that make outrageous claims such as “Stock Set to Double in 3 Months” etc. While I do expect the junior resource sector to trade at multiples of current levels over the coming years, I prefer to deal in the reality of the next… Continue Reading

Via Energy and Gold.com: Silver broke out in impressive fashion from a 4-week old falling wedge on Friday: It’s no coincidence that the measured move from the falling wedge breakout targets the $18.50 area which also happens to be major long-term support/resistance. Lets take a look at the weekly chart to put the major test… Continue Reading

Via Energy and Gold.com: The most bullish aspect of the recent equity market environment has been relatively tame sentiment. Only now after a 100+ S&P point rally within just 2 weeks is sentiment beginning to turn optimistic again:  Source: CNN Money Fear & Greed Index If the S&P prints fresh all-time highs over the coming… Continue Reading