Source: Finding Finance | Date: January 26, 2026

Commodities Update Analysis

Key Takeaways

Dollar (DXY) continuing lower with yields, potentially signaling the beginning of a commodity bull market if the trend continues
Widespread selling pressure and reversal candlesticks across precious metals (gold, silver) and mining stocks, suggesting possible consolidation ahead
Natural gas spiked 25% in a volatile session, while energy sector remains positioned for potential breakout
Uranium and mining ETFs showing bearish engulfing patterns after strong runs, indicating possible pullbacks
Despite short-term reversal signals, longer-term uptrends remain intact across most commodity sectors

Commodity bull market potential: If dollar breaks through support and yields stay low
Gold consolidation: Possible topping pattern forming with potential retest and rollover
Energy sector breakout: XOP approaching resistance line breakout
Copper deficits: COPX expected to go higher due to future copper shortages
Emerging markets: "Long way to go up in a big bull market"

Precious Metals: Gold (+$70/oz with selling pressure), Silver (big reversal wick), Platinum (down but still bullish)
Mining ETFs: GDX, GDXJ, SILJ all showing reversal candlesticks
Energy: Natural gas (+25%), XOP (near breakout), OIH (+1.5%)
Uranium: SRUUF (-5.2%), URA (-3.63%), UNM (all showing bearish engulfing patterns)
Base Metals: Copper (slight decline), COPX (+2.4% but gapped down intraday)

"This has not broken down yet. We've got a falling wedge that's broken to the upside, not the downside."
"I don't chase after this stuff up here... when things start to go vertical like this, this isn't like it's the best entry point."

Auto-generated summary.