Repost from the XSO Thread
--------------------------------------------- Weekly Chart Updates for those interested.
.. Copper Price Futures (HG) came back sharply this week, on an increase in volume, and is now back where price previously broke out @2.9515 I expect some increased support to be found at (or just below) that level. Traders will be looking for the supply being drawn out to ease at that point, if price is to hold on and consolidate in preparation for a future move. Glencore London (GLEN-LON) also came back sharply this week, and closed in the centre of the longer term resistance zone. Similar to the Copper Futures, some increased support is expected to be found around this level. Lithium ETF (LIT) accelerated higher this week with a wide spread, and very high volume. Price gapped higher on open, and never looked back for the week. No traders like to see a vertical lift off like this, as they are rarely sustainable, and are often eventually sold into. So far there is no sign of supply, or any serious selling pressure. Rare Earth ETF (REMX) attempted to continue higher, but did see some increased supply come in this week, which suggests price may come back to test the strength of the previous resistance line @24.000 in the near future. Uranium ETF (URA) traded sideways again this week, with price remaining 'on hold' as it trades 'inside' the wider spread upbar from three weeks back. This suggests an element of indecision, or a lack of conviction in direction. Uranium Price Futures (XUX) traded at a single price point in lacklustre trading all week. Price continues sideways in a narrow trading range. ..
.. 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 Futures (CL)
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.. US Dollar Index Futures (DX)
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.. Aussie Dollar Currency Futures vs USD (6A)
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