Commodity Blog

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• Technical Analysis, July 23rd — July 27th, 2012
• Sugar Joins Agriculture Rally
• Commodity Prices — July 20th 2012

Technical Analysis, July 23rd — July 27th, 2012 Posted: 20 Jul 2012 11:58 PM PDT The technical analysis, that includes the indicators' data and major pivot points for Brent Oil, Gold, Silver and Copper as traded on spot market as of July 21st, 2012: Indicators Moving Averages RSI Parabolic SAR CCI Oil Long Neutral Long Long Gold Short Neutral Short Neutral Silver Short Neutral Long Neutral Copper Long Neutral Long Neutral Floor Pivot Points 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res Oil 97.06 99.56 103.17 105.67 109.28 111.78 115.39 Gold 1562.33 1571.77 1577.13 1586.57 1591.93 1601.37 1606.73 Silver 26.47 26.68 26.98 27.19 27.49 27.70 28.00 Copper 328.33 335.32 339.93 346.92 351.53 358.52 363.13 Woodie’s Pivot Points 2nd Sup 1st Sup Pivot 1st Res 2nd Res Oil 99.84 103.72 105.95 109.83 112.06 Gold 1570.75 1575.10 1585.55 1589.90 1600.35 Silver 26.70 27.02 27.21 27.53 27.72 Copper 334.73 338.75 346.33 350.35 357.93 Camarilla Pivot Points 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res Oil 103.41 105.09 105.65 106.21 107.33 107.89 108.45 110.13 Gold 1574.36 1578.43 1579.79 1581.14 1583.86 1585.21 1586.57 1590.64 Silver 26.99 27.13 27.18 27.23 27.32 27.37 27.42 27.56 Copper 338.17 341.36 342.42 343.49 345.61 346.68 347.74 350.93 Fibonacci Retracement Levels Oil Gold Silver Copper 100.0% 108.18 1596.00 27.40 353.90 61.8% 105.85 1590.35 27.20 349.47 50.0% 105.13 1588.60 27.14 348.10 38.2% 104.40 1586.85 27.08 346.73 23.6% 103.51 1584.69 27.01 345.04 0.0% 102.07 1581.20 26.89 342.30 (...) Read the rest of Technical Analysis, July 23rd — July 27th, 2012 (15 words) Posted on Commodity blog.

Sugar Joins Agriculture Rally Posted: 20 Jul 2012 11:16 AM PDT Sugar is currently demonstrating its fastest daily rally since June 27. While there is no critical danger for sugar production that can be compared to the drought affecting the growth of grains in North America, the commodity is gaining as more investors become bullish on the agricultural sector overall. Heavy rainfalls in Brazil, which is the world’s biggest sugar producer and exporter, threaten the size and quality of crops there since June. Although this factor can be considered as short-term and local, it can be clearly seen on the chart in a form of rally that has started back on June 5. The other big sugar producer, India, which is holding world’s number 2 spot for the commodity output and number 3 as an exporter (following Brazil and Thailand), is experiencing a certain lack of precipitation in the cane-growing areas. This factor, though not very strong, is helping the sugar prices rise as the seasonal demand is growing due to the beginning of the Ramadan celebration in Muslim world. Of twelve commodity traders and analysts surveyed by Bloomberg news agency today, seven expect sugar to be bullish, four — bearish, and one expects prices to hold near the current levels next week. Sugar rose from $0.232 to $0.2395 per pound as of 18:11 GMT on ICE today, demonstrating fourth strongly bullish week in a row. It has also reached its highest level since April 13 earlier today. (...) Read the rest of Sugar Joins Agriculture Rally (12 words) Posted on Commodity blog.

Commodity Prices — July 20th 2012 Posted: 20 Jul 2012 09:53 AM PDT Latest commodity prices (ICE, NYMEX, CME) as of 16:53 GMT: Oil (Brent) — $106.33 per barrel. Gold — $1,581.34 per troy ounce. Silver — $27.26 per troy ounce. Palladium — $573.25 per troy ounce. Platinum — $1,409.70 per troy ounce. Copper — $342.95 per 100 pounds. Cocoa — $2,234.00 per metric ton. Sugar — $23.88 per 100 pounds. Corn — $806.75 per 100 bushels. Soybean — $1,746.75 per 100 bushels. Posted on Commodity blog.

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