Weekly chart updates- for a bigger picture view of the markets.
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Base Metals ETF (DBB) has been negotiating its way through a couple of older resistance levels, and this week price pushed higher on increased volume. Spread was a bit narrow, with a mid bar close, which was of a disappointing result in the end. It appears the supply present is being absorbed, and doesn't appear overwhelming at this stage. A decent push higher in response would confirm that thought.
Glencore London (GLEN-LON) dipped sharply lower and took the form of a shakeout early in the week, then responded and kept pushing higher into the end of week close. Volume was still quite high, so a secondary test may take place early next week, and so long as no unexpected supply is drawn out, the overall the expectation is for price to eventually close higher.
Lithium ETF (LIT) continues to go through the absorption process just above the longer term resistance zone. Volumes are still inflated, which is of some concern, so an acceleration higher in the near term, would reduce the chances of a serious supply event causing any price damage. While price continues sideways I will have a doubt about the intentions inside that high volume.
Rare Earth ETF (REMX) has seen volumes reduce to more normal levels over the last five weeks, and during that time price has moved sideways. I expect price may move higher at some stage, but I won't be surprised to see a shakeout of some kind first.
Uranium ETF (URA) Price appears to have found a little support in the relative safety below the last breakdown line. Volume increased a little, and on that volume price was stable, and spread narrowed. This was the best bar for many weeks, but it still has some difficulties to contend with if price is to begin moving higher again in the future. Sideways would be a good result next week, while it absorbs and removes some of the supply left above, then perhaps a challenge to the line overhead later on if the Uranium Price begins to move higher.
Uranium Futures Price (XUX) remains within the narrow range it has been in for many weeks. Price moved a little higher again this week, and closed slightly above the previous bars high (often a promising indication). Trading remains light.
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Gold Price Futures (GC)
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Silver price Futures (SI)
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Copper price Futures (HG)
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Light Crude Price Futures (CL)
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S&P500 Futures (ES)
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S&P ASX200 Cash (XJO)
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US 10 Year Treasury Note Futures (ZN)
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US Dollar Index futures (DX)
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Aussie Dollar Vs USD Currency Futures (6A)
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Coinbase Bitcoin (BTC/USD)
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(20min delay)