Per the request of an NFTRH subscriber who has been using these vehicles (Teck & Vale) to ride an ‘inflation trade’ scenario we have been discussing…
TCK daily is in a firm uptrend, with key support at the lower channel line and 50 day moving averages just above 11.
VALE daily is curving upward in a manner that I would not be surprised to see form a short-term, bullish Cup & Handle. As with TCK, the 50 day averages are a key support area (around 4.50).
TCK weekly shows a clear resistance zone upcoming. The thing has gone from 4 to 14, after all. Additional support is 9-10.
VALE weekly is not nearly so extended, but is also approaching resistance. If it gets through 6, the next target is 8-9. Support is the same 4.50 as shown on the daily (EMA 40).
Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH.