[Video] Metals Tear Higher (and Could Still Have Further to Go)

Metals have been ripping higher thanks to inflationary fears and a weaker US dollar, seeing gold and silver break key levels and copper eye fresh highs.

Gold 2


In today’s video we update our analysis on silver, which has rallied over 5% since Friday’s video. We also look at spot gold prices after it saw a daily close confirmation above its long-term bearish channel. And then we wrap up on copper futures which are showing signs of another leg higher.

S&P 500: Market Internals

S&P 500: 4163.29 (-0.25%), 17 May 2021

  • Energy (2.3%) was the strongest sector and Communication Services (-0.88%) was the weakest
  • 7 out of the 11 sectors outperformed the S&P 500
  • 8 out of the 11 sectors traded lower on the S&P 500
  • 204 (40.40%) stocks advanced and 299 (59.21%) declined
  • 90.3% of stocks closed above their 200-day average
  • 80.79% of stocks closed above their 50-day average
  • 58.02% of stocks closed above their 20-day average


  • + 6.39%   -  Seagate Technology PLC  (STX.OQ) 
  • + 6.33%   -  Western Digital Corp  (WDC.OQ) 
  • + 5.14%   -  Occidental Petroleum Corp  (OXY.N) 


  • -5.50%   -  Comcast Corp  (CMCSA.OQ) 
  • -5.05%   -  Discovery Inc  (DISCA.OQ) 
  • -3.87%   -  Kansas City Southern  (KSU.N) 

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