After an extended downtrend going back to 2012, copper made a Trend Reversal according to my rules and has now entered its first consolidation. The consolidation is in the form of a 4 day triangle.
Crude oil has spent the last six weeks pushing up after spending most of 2014 pushing down in one of the more historic sell-offs in that market. Because of the strength of the sell-off in 2014, we would expect that any strong push up would be met with selling of some kind.
July Coffee (ICE-US) has carved out a nice tight rectangle after an extended down-trend.
Natural gas has hit the upper end of a descending channel. A break of the channel to the upside could lead to 3.0 (basis June 2015 CME contract).
The US Dollar index flushed down into an area of support last Thursday and then rallied back up the next day to reverse the decline. With all classic technical oscillators buried in oversold areas, the odds are that this market is set to rally over the next few days.
Nigel Bahadur's normal market observations - usually about the US Futures market. Occasionally though, he will express thoughts on individual stocks and FOREX cross rates.