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Coffee is in a long-term downtrend but it’s short-term “trading” picture may be brightening. In the chart below, you can see that coffee prices trying to reverse course at 10-year lateral support 

Sugar has spent the majority of the past 30-Years inside of rising channel.  The 50% decline over the past 24-months has it testing the bottom of the long-term rising channel and 2015 support in the chart below.

SLV and SLV/GLD are working on short-term breakouts, while momentum is deeply oversold.

This 4-pack compares the price action of today with the price action of the 2007 highs

History has shown that while some divergences are ignored for weeks or months, there have been a couple in the past 20 years that have lead to significant declines.

EEM and EFA are testing falling wedge patterns taking place and now testing overhead falling resistance/breakout lines

Over the past few months, rising support has been tested several times. Currently, it is attempting to break above falling resistance.

So far this year, Lumber and the DJ Home Construction index is diverging against the broad market.

Joe Friday Just The Facts Ma’am– This week Doc Copper is experiencing its strongest rally this year, as it breaks above steep falling resistance.

In the chart below, you can see that the two currencies are showing similar reversal patterns – a traditional head and shoulders top for the US Dollar Index and an inverted head and shoulders bottom for the Euro.

Silver/Gold ratio needs to find support if it is to send a strong buy signal to Silver & Gold. See chart below. Free preview of our recent weekly metals report below.

We are very near the edge of a huge multi-year narrowing pennant pattern

Today, we re-visit the ratio of the U.S. Dollar Index to Gold.   Gold bugs and bulls like to see this ratio move lower.

The decline has the SSE index testing the bottom of its 3-year trading range and 5-year rising support, while momentum is now the lowest since the 2009 lows. See chart below

This chart looks at Silver on a monthly basis over the past 45-years.