Michael Ellis

Featuring 8 key futures markets that combined add up to more than 50% of the entire weighting of the Bloomberg Commodity Index (23 markets total) and augmented by analysis of the Bloomberg Index and the US Dollar Index, this report offers the preeminent heavyweight commodity sector portfolio.

Resilience proven at the 23.70 pennant prop, NY has cruised on up to nip at the 25’s Friday, steadily smoothing over the scar left by a Jly contract delivery delve. This is now pushing up against the upper Bollinger band (25.03) but that band is showing initial signs of swerving higher itself so not instantly concerned by its presence and still eying passage on into the 26’s.

Having found the preceding pennant an adequate new support ledge earlier this week (23.70), NY pushed ahead deeper into the 24’s double top Thursday. This is making a similar impression when converted to several other Sugar currencies but there is a key exception, that being B. Real priced Raws that need to pop 1.20 to take an equally important next step.

By and large NY has survived its dip back to the preceding small pennant at 23.70 this week and edged up again Wednesday from it. Still trying to achieve a clearer cut entry into the dual top beyond 24₵ therefore and 24.40 looks like a better graduation point that could adjacently see top breakthroughs in other ‘Sugar’ currencies.

For those seeking more than just analysis of the Dollar Index as a benchmark for currencies as a whole, this report looks at 8 major spot Forex pairings that make up the lions’ share of the vast global FX marketplace while ensuring that critical diversity key to the successful investor.

A gnarly little patch for NY to start the week as it picks at the 23.70 face edge of a prior small pennant shape after a swift expulsion from the top formation over 24.01…