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RunningAlpha Upgrades Commodity Markets Update to Priority List

RunningAlpha Upgrades Commodity Markets Update to Priority List

RunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016

Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil0.00%% ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76 levels if on a spike. Bullish window for buying on dips extends into at least June period -- this also applies to Brent Crude. Russian Stock Market ( $RSX ) looks bullish during this period. Oil and Gas Drilling stocks will likely continue higher on balance -- particularly a core position in stocks like $PBR.A would be sensible, which should also benefit from a continued bullish run in Brazilian Equities ( which I expect Brazilian equities should trend higher into the summer, and again later in the fall to close out the year much higher ). Among many other equities in Latin America, $ARCO and $KOF also have a strong bullish bias with sentiment conviction windows extending into foreseeable future.

Other Commodity Markets showing very significant sentiment strength going forward are in the Agricultural complex -- Soybean, particularly Soybean Meal0.00%% $SOYB, Rice, Corn0.00%% $CORN, Cotton $BAL and Coffee0.00%% ( $JO is ETF0.00%% -- when above $18.02 and especially when trading above above $19.00, then $27 is interim target ), and even wheat0.00%% to some degree. Equities that would benefit from a rise in these commodity markets should have a tail-wind. Silver0.00%% and Gold0.00%% stocks , which RunningAlpha.com has been bullish on for a few months now, still shows signs of strength on pullbacks. Sourced from premium sentiment conviction list on RunningAlpha dot com