Copper is back at the 20dma at 2.684, this level should hold if the next move higher is to start right away. Crucial for the short term.



Crude remains in a tricky spot. A tight range and indicators whipsawing both ways. Once again attempting to start a move up with the 20dma at 53 holding for the last few days. A move above 54.34 would be the first sign of strength building.



51$ remains an important level for crude as multiple support and resistance points were made here historically. The long term chart also looks like an inverted H&S above this level. So is crude taking support here. Except for the recent CFTC positions that show too many long positions here this level can propel prices higher towards the 65$ mark. Should we pay attention to CFTC positions. At times yes but there are times it has not worked so keep this level in mind.



Base metals have been correcting recently and that might continue till the next move up clearly shows up. That said the trend is up so I will post again on them as trends confirm. On copper too we have seen a correction and it is not certainly complete. But the correction is simply the 3rd wave subdividing into a 5 wave rise. 61.8% of wave 1 is at 2.54$. So that should be the important support level to keep in mind. 



Platinium - Wave III up to 1070 starting. Support at 982


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