Technically Speaking
Darin Newsom DTN Senior Analyst

Friday 01/31/14

Trend Table Update

With January officially at an end, I wanted to post this trend table once again. Some of the markets have shown some interesting changes, some are in a state of flux heading into February, and one in particular needs to be handled with utmost care.

Source: DTN

Corn: Notice how the structure of the market is slowly growing more bullish, with the trends in futures spreads making its way to a clean sweep to the upside. This could provide the spark that pulls the futures market into uptrends as well.

Soybeans: A market that doesn't know where it is going. Timeframes that used to show uptrends have turned sideways as both commercial and noncommercial traders seem to be waiting for something.

Wheat: Maybe the move to a short-term sideways trend can carry over to the secondary and major trends. If so it will take the help of the bullish commercial outlook indicated by the uptrends in the spreads.

Crude oil: The asterisk by the minor uptrend indicates the market could be in a state of flux. It would not be surprising to see the short-term trend turn down in early February.

Distillates (heating oil): Similar to crude oil, the minor (short-term) uptrend could soon come to an end. However, any potential sell-off could be limited by the bullish commercial outlook shown by the spreads.

Natural Gas: Note the asterisks by the market in general. This means "Do Not Touch". Nearly all the trends (futures and spreads) are showing conflicting signals making analysis more difficult.

To track my thoughts on the markets throughout the day, follow me on Twitter:\DarinNewsom

Posted at 3:41PM CST 01/31/14 by Darin Newsom
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