WHAT JIM IS WATCHING 8/2
The short-term direction in crude appears lower down to $66. At that point I believe crude will be a buy and continue in the longer-term trend higher up to an objective of $75.
Gold is hovering near support at $1,220. If $1,220 breaks then I think it will be a quick trip down to $1,200. It's the dollar causing gold weakness.
WHAT SCOTT IS WATCHING 8/2
Copper is down again on trade tensions. Look for a retest of $2.67.
The dollar index is toying with 95.00 again. I think 10-year rates and the dollar are the most important metrics.