Market Notebook


Consolidation Week

Generally speaking, last week might be described as a consolidation week for the markets. The price action exhibited, was that of a “healthy” market.


Gold was a stand out as prices came off sharply. Depending on the dynamics of the market, gold tends to be driven by fear, inflation, or the US dollar. It appears that the US dollar factor may have been been in control last week.


Coffee is a favorite follow of mine. It is at an interesting low point here. Only time will tell if it forms a base and moves back higher or breaks down to the low side. Nonetheless, this is an important price point for coffee from a technical perspective.

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