Weekly Currency and Commodities Roundup

Here are some charts of commodities and currency ETFs-Lou

Click on charts to enlarge

Yen ETF (FXY)


Looks like the yen's powerful rally may be ending. Major break of the trend line indicates a down move to perhaps 100. This may actually be indicating that the stock market is set up for a powerful bear market rally in January. The yen has been going in the opposite way of the US stock market since August.


Euro ETF (FXE)
Euro taking a much needed correction from it's huge bounce from November lows. Looks like it may be headed back to 130.

Agriculture (Food) ETF (UAG)

Grain prices have begun to rise again. They are still down sharply from last summer's record highs. Look for your box of Cheerios to cost more in the months to come.

Silver ETF (SLV)

Chart is looking very bullish. Silver could be a story in 2009 as it regains it's "poor man's gold" status.

Gold (GLD)

Gold has made a nice recover from Novembers low of 700/oz and now sits at 875. We may get a small correction to 830 but gold looks like it wants to go much higher

Oil (USO)

Looks like Oil may have hit bottom, downtrend line about to be violated which is a bullish sign. A close over 40 could indicate a new leg up has begun.