Quick update on Commodities, August 23rd 2015

We are at critical levels across several instruments. While most world equities have either started a good sized decline or just on the verge of doing so. Commodities still struggle to find their place. Regarding base metals, several signals are pointing to the exhaustion of the long term down trend, indicating a turning point should not be all that far off.

However we are still to await for a confirmation of a new uptrend. On short term we might be heading slightly lower before we head back up into early Q4. However as it looks now, the second half of Q4 will be a rather bloody one going into Jan 2016.

If the short term run expected in early Q3 extends, I will be more than happy to announce an end to the bloodshed.  This in light of available info still remains questionable.

Short Term Nickel Update, August 11th 2015

As per last post before travelling, markets have drifted lower without breaking 10430 which is the most recent low during July, only couple thousand away from October 2008 low at 8850.

Back to short term picture, in the last post, I was looking for a short term rally before we continue back lower. I do believe it is only matter of time before we see 10430 broken to the downside.

Since markets have revealed little more now, we can start painting some short term targets. Therefore, given that 10430 holds further, we can look to an advance to  12200 +/- before we resume downtrend lower by some time by end August. Below the updated image of the chart posted on July 22nd.


Short Term Update August 10th, 2015

Back to the markets, although not much excitement. Price has drifted into end July as drawn on previous post. I will post some pictures from Lebanon that might be more cheering and get back to the market analysis sometime later!

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