Technically, the broad PMs sector still look very bullish on the longer run, with the next support on the weekly MA50 and on the falling wedge VPVR, with the next target around 46$. We might find bottom and get ready for a rebound to the previous top in the early summertime. It will coincide with the LME trading desk stopping its activities in junes (like spoofing...
Just my opinion on what's coming with the current global inflation picking up. The last 12 years have been a falling wedge with the 3 confirmed impulses. We touched the first resistance at 66$, bounced back and look like we are now heading for a re-test before the end of the summer. If oil break out, the next resistance will be around 75$. At this point if it go...
