Commodity Highlights
Possible Entry for Commodity stocks
In the last post I highlighted RPHA, as a play on palladium and Platinum, today it broke out, possible marking a Reverse head an Shoulders Bottom:
I am already in this stock, but will add, if the breakout holds the close today.
Furthermore, this morning we have a Wedge Pop through the EMAs in Crude and NatGas:
Crude Oil:
Natural Gas:
To play those, I will focus on the larger Cap (First Order) Oil and NatGas names first, and then shift to smaller (Second Order) names later:
First Order: XOM - it already broke out to ATHs two weeks ago, but then pulled back, now might be a good time to add or start a position.
First Order: LNG - This is pure NatGas, but it did the same: Breakout on the weekly to ATH and pulled back:
Second Order: SU - An Oil name, more volatile, and hasnt quite broken out.
Second Order: FRU - NatGas name, more volatile and not quite in an Uptrend
Asmall reminder to look at the big weekly trend for the commodity names. We might see more choppy consolidation in the miners in the coming weeks, so be prepared and dont get stopped out before the trade is actually invalidated.