Weekly charts update :-
(note the same theme being seen across many charts recently......)
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Copper Price Futures (HG) appears to have completed a successful test of the potential resistance line @2.9515 . While a secondary test is always possible in the near term, the expectation would be for a continued push higher in the coming weeks.
Glencore London (GLEN-LON) also appears to have completed a successful test of the longer term resistance zone between 340 - 348 . Similar to the HG chart, a secondary test is possible, but a continued push higher is the expectation in the coming weeks.
Lithium ETF (LIT) has spent the previous consolidating (absorbing supply-in a similar fashion to the HG and Glencore charts), and this week saw price attempt to accelerate higher again. This has been a very Hot sector recently and does look a bit over extended. The close a little off the weekly highs suggests there is still some supply being drawn out, so a secondary test seems more likely on this chart.
Rare Earth ETF (REMX) Same again, price has spent a week or two consolidating recent gains, and this week saw price accelerate higher, suggesting the consolidation has been successful. Price closed above the previous highs on this chart, and maybe the strongest of the four, making a secondary test less likely.
Uranium ETF (URA) dipped below previous support this week, on an increase in volume. The response to this bar is quite important in the coming week. Further downside follow through would probably confirm a price breakdown, whereas a reversal would infer a shakeout of the level. At this point I lean a little towards a two bar reversal or shakeout.
Uranium Price Futures (XUX) remained almost unchanged for the week, and price continues sideways in the narrow trading range.
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Gold Price Futures (GC)
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Silver Price Futures (SI)
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S&P 500 Futures (ES)
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S&P ASX 200 cash (XJO)
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Light Crude Futures (CL)
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US Dollar Index Futures (DX)
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Aussie Dollar Futures vs US Dollar (6A)
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USD Bitcoin - Coinbase (BTC/USD)
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