We analyze today the MSCI METAL and mining index.
After 10 years of underperformance of this index vs major indexes, we are seeing an overperformance in these weeks towards both SP500 and Nasdaq.
On the monthly chart of this index, we see an important intermediate top at 353 last month. Also DEMARK set a “13” count down.
Our trading system is long. We will recommend to increase long positions in metals and mining at the breaking of 355: in this case this index will go higher towards 413 and 482.