MicroStrategy is holding its ground but shows a short-term downtrend, with no good setup for a buy.
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Commodities Update: Technical Analysis: GOLD AND SILVER BOTTOMING, URANIUM LOOKING GREAT HERE
The creator provides a technical analysis of various commodities and equity-linked ETFs, noting positive trends in gold, silver, platinum, palladium, and uranium. They observe a weaker dollar and yields supporting emerging markets, home builders, and financial sectors like KRE. While the broader market indices (SPX, Nasdaq) are up, they are described as looking poor or like garbage, with a preference for value and bottoming patterns.
Linked Mentions
Tickers discussed in this post
XLI is performing well above support, benefiting from weaker dollar and yields.
Nasdaq is getting a bounce supported by weaker dollar and yields, but looks like garbage.
SPX is up but still looks poor, and the creator is not buying it.
KRE is performing well due to weaker dollar and yields, and will face downside pressure if yields continue to rise.
Wheat is breaking out and looking good, with a larger pattern broken to the upside.
URA is in the corner of a bullish downward-facing squeeze, indicating a strong potential for upward movement.
Sprott Physical Uranium Trust is breaking out of a falling wedge with significant upside, indicating a strong move higher.
Platinum is breaking out of a falling wedge with a bullish engulfing candlestick, indicating a potential move higher.
Silver is breaking through resistance with a confirmed shoulder-head-shoulder reversal pattern, indicating a move to new highs.