Metals have been the best commodity performers since the beginning of the year and many multi-year bearish configurations have now turned positive.
Gold is a prime example and its ability to break and stay above 1300 in August has completely changed the outlook of its secular bear market. It is yet too early to call it the end until GOLD has clearly broken 1375 and 1400, leading to 1600 and 1800 targets, but it is worth keeping gold long positions at the moment.
Copper, Aluminium and Platinum are also giving the same signals, and Although Copper is short term overbought, Dr. Copper is indicating without a doubt that the global economy is powering ahead in a coincident fashion in the coming quarters.
The most attractive metal to BUY at this stage is SILVER, with a target at 22.50 and the ONE TO SHORT is PALLADIUM which has risen more than twofold since February 2016 and is marking a significant top with a clear reversal after a vertical acceleration.