Coach Mark here

Commodity charts have been on fire recently and have certainly caught the attention of many people who normally do not pay attention to this area of the market. Now at Tackle Trading we have a soft spot for our commodities (such good cash flow areas historically) so naturally we have been early (as we normally are) on these moves.

My bother Matt was all over the XLE move and oil itself has been joining the party to start the month of April. Gold continues its ascent and GDX is playing a little catchup along the way. We have been talking about these charts for a long time now.

There are a couple of new comers to the commodity party in the last couple weeks. Silver and copper both are enjoying strong moves today and are in zones where multi-time frame breakout analysis is appropriate. Multi-time frame discussions (where price is breaking out on multiple time frames) do not happen every day in the world of commodities so you can expect more conversation on these charts in our programming in the coming days and weeks.

Naturally rising commodity prices can impact the inflation story but for now my primary focus (while keeping an eye on that) is focusing on identifying ways to play the commodity space. I have no shortage of areas to focus on this week.

Have a fantastic Wednesday!

Copper (/HG)

Copper is looking frisky again. Copper has an excellent track record in inflationary periods accompanied with reasonable economic growth. Kind of like what we are facing right now.

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