The 6-pack below updates chart patterns from the Gold and Steel sector that we share often on this blog. It is shared weekly with our Metals and PremiumMembers.
The recent decline has driven bullish sentiment down (20% bulls), levels seen only three times in the past decade at (2). Source; from Sentimentrader.com.
Since bottoming in late 2015, commodity prices have made a comeback of sorts, chopping their way higher. Couple this with a U.S. Dollar that is in the throws of a deep correction, and there’s reason to be bullish.
This chart looks at an asset that remains inside of 8-month rising channel (1). It had been weak of late, where it tested rising support at the start of this year.