Commodity prices are coming under pressure once again. I can continue to make a bullish medium-term case for gold and oil, but we cannot escape the mounting evidence of a Chinese slowdown. The latest casualty has been industrial metals, with copper leading the way down. My hope was that commodities had bottomed, but there appears to be another leg as the global economy slows.
Palladium is a precious metal but mainly used in industrial applications. The short squeeze thesis has not worked out, and the stop loss has been triggered.
Sell WisdomTree Commodities ETF (AGCP)
Sell iShares Palladium ETF (SPDM)
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