ENERGIES: 12/29/09 Higher closes on Monday for crude oil and heating oil along with the rbob and natural gas. All of the energies have retraced higher over the last four trading sessions still in a strong resistance area but acting like they're starting to turn back higher. Natural gas made its highest high and close since late October not affected by last Thursday's reversal type action. I have a technical Buy Signal for Natural Gas.
METALS: 12/29/09 Higher closes yesterday for copper, gold, silver and platinum again with little change technically. Copper settled higher again for the 3rd consecutive trading session in a row making its highest high and close since September '08 again! Gold and silver closed higher again but gold should continue to work lower overall while silver has been able, so far, to hold 1700 basis the March contract and hasn't give me any signal at this time. Platinum also settled strong again with its best high and close in three weeks acting like it will test its highs. BUY SIGNAL FOR COPPER. SELL SIGNALS FOR GOLD