Industrial metals continue their upward move. The MACD and RSI are rising. Prices are in a clear uptrend and are consolidating gains along the way. The 10 and 20 day EMA are rising and the 10 day EMA is about to cross over the 50 day EMA. The 20 day EMA is approaching the 50 day EMA.
The daily industrial metals chart shows the uptrend in more detail. Prices are moving along the trend line, consolidating gains in triangle patterns. The shorter EMAs are above the longer EMAs, all the EMAs are rising and prices are currently above all the EMAs. This is a bullish chart.
Agricultural prices are now in a downtrend. Notice that prices are consolidating below the upward sloping trend line and that the MACD was given a sell signal. Prices are below all the EMAs and the EMAs are moving into bearish orientation.
The daily agricultural prices chart shows that prices are consolidating in a triangle pattern. The MACD and RSI are both rising (unlike the weekly chart) and prices are entangled with the shorter EMAs.
