White lines on the top and bottom are the major range lines. The yellow lines represent swing levels and trends. I placed a pitchfork analysis and you can see VALE is in a long term uptrend. I expect a break to the upside out of the triangle pattern and continue up inside the upward pitchfork. The next swing line, should it break to the upside, would be the next yellow swing line.
Aside from technicals, you have money flowing out of tech and commodities benefit from high interest rates. I expect with the technicals and macro trends for commodities to go up. However, the global economy and markets are on thin ice, so be cautious.
I made this analysis April 2022.
Aside from technicals, you have money flowing out of tech and commodities benefit from high interest rates. I expect with the technicals and macro trends for commodities to go up. However, the global economy and markets are on thin ice, so be cautious.
I made this analysis April 2022.