WisdomTree ZINC - 14th December 2023 | @ 78 Days | - 0.25%
Last trade: - 0.25% | 'B' class signal detected in WisdomTree ZINC. Running at an average wavelength of 78 days over 12 iterations since June 2021. Currently moving down.
Instrument Summary
WisdomTree Zinc is a fully collateralised Exchange-Traded Commodity (ETC) within UCITS eligibility, crafted to offer investors comprehensive exposure to Zinc futures contracts' total returns. The ETC's objective is to mirror the Bloomberg Zinc Sub Total Return Index (BCOMZSTR) by tracing the Bloomberg Zinc Sub Excess Return Index. It factors in interest revenue while accounting for associated fees and costs.
ΣL Cycle Summary
Price traced out another sideways iteration of this component through November and has now peaked. The already present down leg in price of this wave should therefore continue for the next few weeks, into the projected trough, around the middle of January 2024. Keen eyed readers will note the fascinating presence of a somewhat weaker periodic component around 56 days average wavelength in this instrument - reminiscent of another very prominent component in another metal…!
Trade Update
See also: Live ΣL Portfolio & History
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.
Type: Buy - WisdomTree Zinc 1st November 2023
Entry: 1st November 2023 @ 8.02
Exit: 14th December 2023 @ 8.00
Gain: -0.25%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: B - learn more
Average Wavelength: 78.44 Days
Completed Iterations: 12
Component Yield Over Sample: 153.92% - learn more