MicroStrategy is up significantly in the short term, showing a nice bounce.
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Commodities Update: Technical Analysis: OIL, GOLD AND SILVER, URANIUM ALL LOOK SOLID
The creator provides a technical analysis of various commodities, currencies, and equity-linked ETFs. They express bullish sentiment on gold, silver, platinum, palladium, crude oil, natural gas, uranium, nickel, copper, iron ore, soybeans, wheat, corn, emerging markets, and several commodity-related ETFs like XOP, OIH, URA, URNM, URANJ, COPX, and XHB. The creator notes resistance levels for some commodities but generally sees potential for upside. They also comment on the dollar, yields, and bond prices, indicating a bullish outlook for higher yields. The creator expresses surprise at the resilience of some equity indices like SPX, Nasdaq, and Dow Jones Transportation despite negative technicals, attributing it to a "Plunge Protection Team."
Linked Mentions
Tickers discussed in this post
Wheat is moving higher after breaking a larger pattern to the upside.
Nickel is down slightly but back at support, with low selling pressure suggesting a continuation move to the upside.
Sprott Physical Uranium Trust is showing a small down candle but maintains a larger bullish pattern breaking to the upside.
Newcastle coal futures are consolidating sideways below resistance, with the expectation of a future upward break.
GDXJ is showing a similar pattern to GDX, with a slight pullback but still holding on.
Platinum has broken out of its falling wedge and looks poised to move higher.
Silver is looking okay, with the creator hoping for a break above resistance, but acknowledges a potential temporary dip into the 50s before an ultimate bottom.
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