LME warehouse inventories tell a part of the story (and hard to ignore when trend is consistent over a long period), but I treat it with a dose of skepticism anyway because data is systematically manipulated in both directions (story below).
From a TA perspective Poz approaches critical 2900 resistance. It's tried unsuccessfully to pass this point 3 times recently and each failure triggered an immediate price correction. Sentiment seems to be firming though. If 2900 is breached Poz could rally hard imo.