Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Commmodities Balanced. Seen Higher In The Coming Weeks.

|About: Invesco DB Commodity Index Tracking ETF (DBC)

Summary

Commodities balanced, but seen higher in the coming weeks.

Platinum upgraded - could Gold and Silver follow suit?

Oil and Agriculture consolidating.

Further signs of improvement in Platinum (XPT) as both momentum studies and the Tension Indicator strengthen.

Platinum showing signs of improvement

Poised to break above $950 with next resistance at the $961.10, (50%) Fibonacci retracement.

Still higher is $975.60.

Cautious Upgrade to Positive.

An unexpected close below critical support at the $886.15 low of July would negate gains and confirm continuation of the broad 2016 bear trend.

To access the full report, covering the broad Commodities ETF (DBC), Gold, Silver, Platinum, Crude Oil and Natural Gas futures, High Grade Copper futures, Corn, Soybean and Wheat futures, please visit our website.