Gold Bullion - GLD Exchange Traded Fund - Daily Chart

As you can see, gold broke to the upside of this large bull flag/ABC retrace wave pattern back in May. This posted us a sold 7% gain last week. I have a feeling we are going to see prices test lower or consolidate sideways for a couple weeks. We will continue to hold a core position with an exit price set at my support trend line, which is slowly moving higher each day to lock in more profits.

Silver Bullion - SLV Exchange Traded Fund - Daily Chart

Silver has provided the same opportunity but has not yet broken my support trend line. If we get a trend line break, I expect to see prices drop quickly. I suggest placing a stop just below the support trend line level to lock in some gains at the $14.75 area. With any luck we can buy back some silver at a cheaper price in the near future.

Crude Oil - USO Fund - Weekly Chart

Weekly charts provide powerful trading signals and I like to use this time frame for identifying possible trend changes. Oil made a reversal back in March and has been performing very well. At the current price, it is starting to look overbought and I expect a pullback of some type soon. I have provided a short term profit taking trend line, which would be the point to lock in some gains on energy trades.

Natural Gas - UNG Fund - Weekly Chart

As you can see Natural Gas looks to be starting a reversal at this price level. Volume is surging higher, MACD is moving higher and we could get trend line break soon,which will provide us with an intermediate buy signal. I will continue to watch Natural Gas until I have a low risk entry point to buy. I think we are still 2-4 weeks away from a possible buy signal.

The Precious Metal, Oil & Nat Gas Trading Conclusion

Gold and silver are starting to move lower. This week will be interesting, as prices unfold. Because gold stocks are underperforming the price of gold bullion, I am leaning towards lower prices in the near term.

Crude oil continues to push to new multi month highs. Moving stops/exit points up in the energy sector is a wise decision for short term traders. So far it's been a great run.

I recommend locking in gains after a solid move higher. Too many times, the market will reverse and wipe out most of the unrealized profits in a few bad sessions. You can always add to the position again on a pullback, with a low risk entry point, or put that money to work in a new setup possibly Natural Gas.

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Chris Vermeulen