Doctor Copper among pre-market’s harsh reversals

Copper spike and reversal As gold hits our short-term target (short-term, longer-term is much higher), Nickel goes limit up and other items went bonkers in pre-market, the good doctor is doing failure #4. It is still technically bullish, but the failure is in not yet taking a next leg. Like Nickel, for example. It’s getting dangerous out there, folks. More and more my general default … Continue reading Doctor Copper among pre-market’s harsh reversals

NFTRH+; Futures go bonkers, Ni vertical, Au to target… some thoughts

Various ‘war trades’ spiked and some are reversing in pre-market. Palladium and gold did the spike and reversal while nickel is doing what wheat did last week, limiting up. From NFTRH 696, part 4: Insofar as current TA and sentiment trends remain intact, we’re looking for gold to 2000+, silver to 30+/- and HUI to 325. Gold ticked 2007 before reversing. Silver did not do … Continue reading NFTRH+; Futures go bonkers, Ni vertical, Au to target… some thoughts

Metallic Commodity Whack-a-Mole

Different short-term conditions among the metals As the macro tries to sort itself out with respect to the near-term play being inflation (good for some things), deflation (bad for most things) or Goldilocks (good for some other things), commodities, which would obviously prefer Thing 1 are all over the map, doing the Whack-a-Mole thing they often do (as I picture large traders and machines roving … Continue reading Metallic Commodity Whack-a-Mole

Nickel remains in fine technical shape

‘Battery Metal’ Nickel is bullish Among other metals like cyclical, inflation-sensitive copper, counter-cyclical much less inflation-sensitive gold and tweener silver that have either been correcting during the summer inflation cool down began (Cu) or since the dominant inflationary phase began (Au and in a sideways consolidation, Ag) Nickel recently ticked a new high, tested its SMA 50 and looks for another new high. It’s an … Continue reading Nickel remains in fine technical shape

Doctor Copper & friends, warehouse levels

LME warehouse levels for various industrial metals Doctor Copper gets the attention, but the red metal is just one of a whole bunch of cyclical industrial metals subject to inflationary economic growth.  Obviously, the lower the warehouse level the more fundamentally positive for the price from a supply/demand standpoint, and theoretically, the more positive for the global economy due to its demand for these materials. … Continue reading Doctor Copper & friends, warehouse levels