US DollarUSD is below its 200 Day Moving Average which signifies long term trend. It has broken below major support zone at 98 and moving downwards.Weakness in US dollar is positive for Copper and Emerging Markets. CopperWeak US Dollar strengthens copper which is priced in US dollar. Largest Copper Miner Freeport McMoran (FCX) which is … Continue reading Weak US Dollar may lead Copper, Yields and EEM higher
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Three Sectors on watch
Consumer Staples, Utilities and Real Estate are showing similar consolidation pattern on daily charts. Relative Strength and Momentum XLU and XLRE have crossed above 10 DMA of relative comparison to S&P 500, while XLP is about to cross the same. XLP is above 61.8% while XLU and XLRE are just below 61.8% retracement of last … Continue reading Three Sectors on watch
Copper Indications
CRB Commodity index has formed a base and is on the verge of a breakout. Base/Industrial Metals constitute 13% of the CRB Index. Copper is an important industrial metal. Rise in demand for copper is a sign of economic growth. Copper and Base Metal ETFs have given positive returns since April 2020. Copper/Gold The Copper … Continue reading Copper Indications
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