COMMODITY OUTLOOK - Base Metals to continue Surge Higher - Energy Markets trigger new Buy Signal
In This Edition: It’s an exciting time for Commodities – last month’s report turned bullish for just about all three sub-sectors, Base Metals, Precious Metals and Energy and there’s since been some important inflexion reversal-signatures. Leading the list are the Base Metals – Copper in particular has traded higher by over $300 dollar tonne or +5.2% confirming a 5th wave is engaged to the upside. Others are following in this latest advance, including Lead and Zinc. Precious Metals have formed string foundations in the miners, benchmarked in the GDX and XAU indices although bullion Gold and Silver are now testing critical support levels, so we’ll be taking a look at what the coming month has in store. And finally, the Energy sector is confirming a major low took place for Crude and Brent Oil in late-June which underlines its bullish outlook for the next several months. This also corresponds to the end of a corrective low for the Energy XLE (ETF) index.
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