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April 22, 2008

Turnaround Tuesday

A second day of slippage in the dollar is not being ignored by commodities. Oil is popping another two bucks and is knocking on the back door of $120. Silver is taking back the 3% it last yesterday, and a host of other commodities, softs and metals alike, are rising. Here are a few in which I have a vested interest:

Silver has recouped yesterday's spill. If it can take and hold $18, it would be in a good position to test the waters at $18.50 again.

silver chart

Sugar is looking sweet!

sugar chart

Copper gapped toward the upper bound of its recent trading range. I'm quite keen on seeing it take out $4. It would then be free to run to $4.15 and perhaps much further.

copper chart

 

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