Thank you. Concerning commodities, do you use the Commodity Channel index. Someone I followed years ago swore by it. If so, could IGE look positive here.
One thing I just want to point out. The "Commodity" in Commodity Channel Index (CCI) doesn't really have anything to do specifically w/ commodities. I'm sure there's a back story on the name.
But the CCI is an oscillator looking at current price deviation vs. a historical average. It should mostly line up with other indicators like the RSI in spotting overbought/oversold levels.
Concerning IGE, it definitely appears oversold based on the CCI which is also recently crossing above an oversold threshold (sometimes used as a signal).
I do think commodities and related producers could be big surprise winners in 2025. IGE could potentially have an attractive risk/reward at this support level around $42 (could put a stop just below September low at $41).
Thank you. Concerning commodities, do you use the Commodity Channel index. Someone I followed years ago swore by it. If so, could IGE look positive here.
https://schrts.co/NBQpydGp Thanks.
Good question, Will!
One thing I just want to point out. The "Commodity" in Commodity Channel Index (CCI) doesn't really have anything to do specifically w/ commodities. I'm sure there's a back story on the name.
But the CCI is an oscillator looking at current price deviation vs. a historical average. It should mostly line up with other indicators like the RSI in spotting overbought/oversold levels.
Concerning IGE, it definitely appears oversold based on the CCI which is also recently crossing above an oversold threshold (sometimes used as a signal).
I do think commodities and related producers could be big surprise winners in 2025. IGE could potentially have an attractive risk/reward at this support level around $42 (could put a stop just below September low at $41).