Base Metals May Be Next in Line 🌤️ The Morning Print

Good morning! 

The Base Metals Fund looks ready to resolve higher from a multi-year base.

Here's the setup.

Gold and Silver have already delivered historic moves, with Copper recently making new all-time highs.

Now, it could be time for rotation into the rest of the industrial metals space.

Versus Gold, the relative ratio has closely tacked with the base metals, though that relationship diverged once Gold entered its parabolic advance in 2023.

If DBB can complete a breakout from its long-term base, outperformance versus precious metals may be likely.

The rotation into base metals is just getting started.