A Tri-Metallic Live Chart Update

In order of appearance these metals are the cyclical inflation signaler, the counter-cyclical relative disinflation signaler and the really early and intense inflation signaler (at least in its relationship to gold). Or some such things; work with me here.

Copper has been bearish and is in a major downtrend (SMA 200) with the potential to establish an intermediate uptrend (SMA 50). It’s probing critical support now after utterly failing to make the inflationary/cyclical macro signal above $3/lb.

copper

Gold never did test the up-turning SMA 200, which I for one thought it most likely would do. But regardless, the wedge is broken, the trends are up (again, the major trend is just now shifting back up again) and the move could be impulsive, which would one day be looked back upon as a launch (or could it be another heartbreak for the bugs?). I am feeling pretty good about gold despite its rally coming amid global trade headlines.

gold

Silver is still locked below lateral resistance and the down trending moving averages. Despite this, I bought and added to the Silver Bullet around the lows, obviously not for technical reasons. While I like several gold miners I don’t really have a good read on silver miners and the way this thing moves (when the time is right) I’ll go with the metal over the miners.

silver

Subscribe to NFTRH Premium (monthly at USD $33.50 or a 14% discounted yearly at USD $345.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas.

You can also keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar and get even more by joining our free eLetter. Follow via Twitter @BiiwiiNFTRH, StockTwits or RSS.