Metals Lost Their Shine
Presented by Heartland Investor Capital Management Inc. CTA
Metals:
Gold and silver pull back after an explosive seasonal rally from August to October
Gold touched a high near $4398; silver peaked around $53.75
25% Fibonacci retracement aligns with 15-day moving average, suggesting potential minor bounce before further corrections
Seasonal strength expected from Indian holidays could support higher prices into early 2026
Grains:
Corn shows a near key reversal day but remains above the 50-day moving average
USDA crop reports and China trade talks will drive near-term price direction
Soybeans are in wave three, with minor pullbacks expected; potential upside remains toward $1050
Soybean meal remains supportive, with explosive gains following trend line and moving average break
Cattle:
Live and feeder cattle rallied after tariffs on Brazilian beef; trend remains bullish
Wave four correction holding key support levels; fifth wave potential remains intact
Cattle-on-feed estimates near 98% placement; market sensitive to Trump’s trade announcements
Crude Oil:
Minor bounce in volatile session
Wave analysis indicates fourth wave bounce is likely temporary
End-of-year target around $50, consistent with seasonal trends and wave structure
Provided by:
Eugene Graner,
Heartland Investor Capitol Management, Inc., CTA
(A separate entity from Heartland Investor Services)
Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable to Heartland Investor Capital Management, Inc. but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK of LOSS involved in trading futures and / or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. The information contained in this newsletter is privileged, confidential and protected from disclosure. Any further disclosure or use, distribution, dissemination or copying of this message or any attachment is strictly prohibited. Provided by Heartland Investor Capital Management, Inc. a registered CTA with the NFA, of which Eugene Graner is principal. This entity is a separate legal entity from the Introducing Broker Heartland Investor Services.