Gold, Silver, Copper and Miners turning positive

Summary: Early signals of a positive shift in both metal commodities and mining stocks in the US and Europe. Each of the metals Gold, Silver and Copper had positive signals on the Daily time frame. The Weekly is still negative and the Daily positivity will need to eventually drag the longer term weekly trend and speed scores higher.

Anglo American Plc has also generated positive signals with a positive Weekly Q signal and a simultaneous positive Daily Delta Reversal indicating that the speed and direction of the score is turning positive.

Last weekend, the Quantmatix system highlighted the initial positive signals in this theme.

“June 3 Commentary - Positive Metals and Mining Theme: Anglo American and the US Mining ETF (XME) showed positive signals with weekly positive Q signals and daily delta reversals. The mining theme was further supported by positive delta reversals in gold, silver, and copper ” 

This theme continues to develop and definitely worth paying close attention to: 

We highlight the spate of positive signals in Gold, Silver and Copper and also the number of positive signals and score improvements  in the Quantmatix Mining Universe, The Gold Mining ETF (RING) and the Blackrock World Mining fund and the US Metals and Mining ETF (XME) 

‍Chart and Trade Navigator View

AAL LN is trading just below the top of the Daily Band (Res Daily) if this breaks there is potentially significant +7% upside to the top of the Weekly Bands with the top of the monthly band +15% higher than current levels. Downside support is -1% below here.

‍