A few weeks ago we noted that base metals were in a potentially bullish pattern and recently updated that status as near a break out. GYX is now breaking out of the pattern. Here is a weekly chart of the DBB base metals ETF.
Buy Target: 17 or as close to the breakout line as possible if you did not buy (I did not)
Sell Target: 18.50
Stop Loss: As suits, below 17.
Or in the case of individual stocks, FCX looks interesting. Be aware that a daily chart is over bought, so considering it is at resistance it could get a pullback toward 35.
Buy Target: 35-36
Sell Target: 45, which is a conservative measurement if this does break out
Stop Loss: Below 33-34
I do not have a position in either of the above but have them both high on the watch list.
Do your DD on the base metals and if you are a bull, consider the breakout on GYX/DBB as a positive sign.
All NFTRH+ updates are subject to the assumption that the broad markets are stable.
