Bit pushed for time this weekend, so the weekly chart analysis is slightly different this week.
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Lots of charts had 'inside' bars this week, which infers reduced volatility, and indecision.
They can sometimes lead towards larger moves in the future.
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Copper Price Futures (HG) saw price accelerate higher this week on increased volume. The momentum generated is likely to carry price higher again early next week. At this point there is a decent chance (about 50/50) that price will come back and test the strength of the breakout above the 2.9515 line before and serious push higher.
Glencore London (GLEN-LON) which I use as a proxy chart for commodities generally. Price pushed higher and deeper back into the longer term uptrending channel, as price recovers after the bidding war for RIO's NSW coal assets (which seems to have been the catalyst for the price pull back). Price is now trading above the previous highs, and while there maybe some sideways testing of the strength here, overall this recovery looks strong.
Lithium ETF (LIT) accelerated higher again this week with an increased spread on above average volume. The momentum should carry price higher again this week.
Rare Earth ETF (REMX) has stalled a bit in recent weeks and has seen increased supply drawn out. There has been a decent attempt to absorb this supply so far, and appears to be gaining the upper hand.
Uranium ETF (URA) traded sideways and 'inside' the previous bar this week on low volume. Price would normally be expected to respond higher in response to a lack of selling pressure here, but may depend on any movement in the underlying price of Uranium (which has been very quiet recently).
Uranium Price Futures (XUX) price dipped lower again this week, as price continues sideways trading overall. No catalyst for a price movement has arrived, and maybe needed before any serious change is seen.
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Gold Price Futures (GC)
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Silver Price Futures (SI)
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S&P500 Futures (ES)
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S&P ASX200 Cash (XJO)
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Crude Light Price Futures (CL)
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US Dollar Price Futures (DX)
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Australian Dollar Currency Futures vs USD (6A)
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