A.M. Look 5/28/24

All commodities over the past two days.

Oil has been trying to trade into the low 79 level. Resistance is @ its 200 DMA into the bottom of the cloud.
tolerance for shorting is am 80.65 print which will confirm last weeks low.

Friday it was pointed out in the room that the break in Silver and Gold was nothing more than a big retest.

Silver/Bonds retreated its 50 Yr. Pit breakout and held.

Gold retested its Matrix level and held.

Silver led last night. Gold is running into resistance from last nights high into 2370.

I’ve been playing with some very long-term Silver Point & Figures for a little more definition.
Shorter-term the 25, 50 & 100 are great.

Soybeans keep failing just below its 200 DMA until it doesn’t.

Kansas City Wheat is at major mag avg resistance.

There is no buying strength in the commodity sector. One must wait for the pukes or you will not have any risk management.

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