Mish’s Daily: Currencies, Metals and Soft Commodities
Written by Michele ‘Mish’ Schneider
For today, I am including a clip that covers currency pairs and several commodities.
Watch the clip HERE
The four-chart screen is a daily screenshot of gold (GLD), sugar (continuous contract), the US dollar to the Euro (USDEUR) and platinum continuous contract (PLAT).
Gold is falling from its recent highs.
Sugar has run into some resistance with momentum currently in mean reversion to the downside.
The Dollar to the Euro shows the dollar strengthening while its momentum has a bullish divergence.
Platinum, mirroring gold, also looks like some resistance is at hand. Have a listen to the clip as I go through the chart (futures) and give actionable information.
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Mish in the Media
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Your Daily Five StockchartsTV 05-04-23
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Into Resistance – How To Trade It 05-02-23
May 18th Presentation for Orios VC Fund, India
May 19th Real Vision Analysis
May 22nd TD Ameritrade
May 31st Singapore Radio with Kai Ting 6:05 PM ET MoneyFM 89.3
S&P 500 (SPY) 23-month MA 420
Russell 2000 (IWM) 170 support – 180 resistance
Dow (DIA) Now below the 23-month MA
Nasdaq (QQQ) 329 the 23-month MA
Regional banks (KRE) 42 now pivotal resistance-holding last Thurs low
Semiconductors (SMH) 23-month MA at 124
Transportation (IYT) 202-240 biggest range to watch
Biotechnology (IBB) 121-135 range to watch from monthly charts
Retail (XRT) 56-75 trading range to break one way or another