GSCI Industrial Metals Index

GSCI Industrial Metals Index closed down by -1.19% to 457.14 on 23 January 2021 and +3.02% on a weekly basis. GSCI Industrial Metals Index momentum was last calculated at -50.0/100 indicating negative momentum. GSCI Industrial Metals Index trend is +50.0/100 indicating a positive trend. GSCI Industrial Metals Index momentum exhaustion is 1.80696 indicating GSCI Industrial Metals Index is oversold.GSCI Industrial Metals Index RSI is 50.3084 .

GSCI Industrial Metals Index Chart

GSCI Industrial Metals Index

GSCI Industrial Metals Index Statistics

MacroVar multi-factor statistical models monitor financial factors which are used to analyze and predict the GSCI Industrial Metals Index. Click here to explore the financial factors monitored and their current signals.

Click here to explore the methodology used for estimating the GSCI Industrial Metals Index trading signals presented in the GSCI Industrial Metals Index statistics table.

SecuritySymbolLastMomentumTrendOscillatorRSI1D%1W%1M%1Y%
GSCI Industrial Metals IndexGSCI.INDUSTRIALMETALS457.14-0.50.51.8069650.3084-1.193.023.130.17532

GSCI Industrial Metals Index closed at 457.14 on 23 January 2021. GSCI Industrial Metals Index trend was last calculated at +50.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. GSCI Industrial Metals Index momentum was last calculated at -50.0/100 (range: -100 to +100) indicating negative momentum. GSCI Industrial Metals Index momentum exhaustion is 1.80696 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating GSCI Industrial Metals Index is oversold and a possible reversal is imminent. GSCI Industrial Metals Index RSI was last calculated at 50.3084. GSCI Industrial Metals Index moving averages were last recorded as follows: 1-month moving average: 387.163 in a downtrend , 1-quarter moving average: 365.542 in an uptrend and 1-year moving average: 318.416 in an uptrend. GSCI Industrial Metals Index annual return was last recorded at None%, daily return was last recorded at -1.19%, and weekly return was last recorded at 3.02%. GSCI Industrial Metals Index histrorical 20-day volatility was last recorded at 15.3287%, GSCI Industrial Metals Index alpha None, GSCI Industrial Metals Index beta None and GSCI Industrial Metals Index maximum drawdown was recorded at None%. MacroVar models monitor GSCI Industrial Metals Index statistics based on historical data since 1970.

GSCI Industrial Metals Index Factors

GSCI Industrial Metals Index

FactorSymbolLast ValuePredicted ValueR2MacroVar Signal
Global PMI Y/Y vs Metals Index Y/YMETALSINDEX.FACT.GLOBALPMI

GSCI Industrial Metals Index Trading Signals

MacroVar estimates the following signals: GSCI Industrial Metals Index momentum, GSCI Industrial Metals Index trend, GSCI Industrial Metals Index oscillator, GSCI Industrial Metals Index RSI and GSCI Industrial Metals Index returns.

GSCI Industrial Metals Index Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarGSCI Industrial Metals Index momentum signal ranges from -100 to +100. The GSCI Industrial Metals Index momentum signal is derived as the mean value from 4 calculations for the GSCI Industrial Metals Index. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. GSCI Industrial Metals Index return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. GSCI Industrial Metals Index momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when GSCI Industrial Metals Index momentum signal moves from positive to negative value or vice-versa.

GSCI Industrial Metals Index trend

GSCI Industrial Metals Index trend signal ranges from -100 to +100. GSCI Industrial Metals Index trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. GSCI Industrial Metals Index Closing price vs GSCI Industrial Metals Index moving average (MA) calculation: If GSCI Industrial Metals Index is greater than GSCI Industrial Metals Index MA value is +1, else -1, 2. GSCI Industrial Metals Index Moving average slope calculation: if current GSCI Industrial Metals Index moving average is higher than the previous MA, GSCI Industrial Metals Index upward slope +1, else -1
GSCI Industrial Metals Index trend model can be used as a trend strength indicator. GSCI Industrial Metals Index trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when GSCI Industrial Metals Index trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The GSCI Industrial Metals Index 52-week simple moving average and its slope are the most important indicators defining a market’s trend. GSCI Industrial Metals Index is in an uptrend when GSCI Industrial Metals Index price is higher than the 52-week moving average and the GSCI Industrial Metals Index 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the GSCI Industrial Metals Index oscillator and GSCI Industrial Metals Index RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

GSCI Industrial Metals Index oscillator

The GSCI Industrial Metals Index oscillator estimated by MacroVar is the z-score of the current GSCI Industrial Metals Index price versus GSCI Industrial Metals Index 1-year simple moving average price. The formula for the GSCI Industrial Metals Index oscillator is:
GSCI Industrial Metals Index oscillator = (Current Price – 250 trading days GSCI Industrial Metals Index simple moving average price) / (250 days GSCI Industrial Metals Index price standard deviation)

GSCI Industrial Metals Index oversold conditions
GSCI Industrial Metals Index is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the GSCI Industrial Metals Index is oversold it is often due for a rebound. Values of the GSCI Industrial Metals Index oscillator lower than -2.5 signify oversold conditions. It must be noted that the GSCI Industrial Metals Index oscillator must be analyzed ibn conjunction with the rest of GSCI Industrial Metals Index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the GSCI Industrial Metals Index RSI.
GSCI Industrial Metals Index overbought conditions
GSCI Industrial Metals Index is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the GSCI Industrial Metals Index is overbought it is often due for a correction. Values of the GSCI Industrial Metals Index oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the GSCI Industrial Metals Index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

GSCI Industrial Metals Index RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when GSCI Industrial Metals Index is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During GSCI Industrial Metals Index uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

GSCI Industrial Metals Index returns

MacroVar calculates GSCI Industrial Metals Index returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

GSCI Industrial Metals Index returns = (GSCI Industrial Metals Index Closing Price – GSCI Industrial Metals Index Previous Price)/(GSCI Industrial Metals Index Previous Price)

GSCI Industrial Metals Index Trading Signals

MacroVar estimates the following signals: GSCI Industrial Metals Index momentum, GSCI Industrial Metals Index trend, GSCI Industrial Metals Index oscillator, GSCI Industrial Metals Index RSI and GSCI Industrial Metals Index returns.

GSCI Industrial Metals Index Momentum

Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVarGSCI Industrial Metals Index momentum signal ranges from -100 to +100. The GSCI Industrial Metals Index momentum signal is derived as the mean value from 4 calculations for the GSCI Industrial Metals Index. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. GSCI Industrial Metals Index return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. GSCI Industrial Metals Index momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when GSCI Industrial Metals Index momentum signal moves from positive to negative value or vice-versa.

GSCI Industrial Metals Index trend

GSCI Industrial Metals Index trend signal ranges from -100 to +100. GSCI Industrial Metals Index trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. GSCI Industrial Metals Index Closing price vs GSCI Industrial Metals Index moving average (MA) calculation: If GSCI Industrial Metals Index is greater than GSCI Industrial Metals Index MA value is +1, else -1, 2. GSCI Industrial Metals Index Moving average slope calculation: if current GSCI Industrial Metals Index moving average is higher than the previous MA, GSCI Industrial Metals Index upward slope +1, else -1
GSCI Industrial Metals Index trend model can be used as a trend strength indicator. GSCI Industrial Metals Index trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when GSCI Industrial Metals Index trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The GSCI Industrial Metals Index 52-week simple moving average and its slope are the most important indicators defining a market’s trend. GSCI Industrial Metals Index is in an uptrend when GSCI Industrial Metals Index price is higher than the 52-week moving average and the GSCI Industrial Metals Index 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the GSCI Industrial Metals Index oscillator and GSCI Industrial Metals Index RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

GSCI Industrial Metals Index oscillator

The GSCI Industrial Metals Index oscillator estimated by MacroVar is the z-score of the current GSCI Industrial Metals Index price versus GSCI Industrial Metals Index 1-year simple moving average price. The formula for the GSCI Industrial Metals Index oscillator is:
GSCI Industrial Metals Index oscillator = (Current Price – 250 trading days GSCI Industrial Metals Index simple moving average price) / (250 days GSCI Industrial Metals Index price standard deviation)

GSCI Industrial Metals Index oversold conditions
GSCI Industrial Metals Index is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the GSCI Industrial Metals Index is oversold it is often due for a rebound. Values of the GSCI Industrial Metals Index oscillator lower than -2.5 signify oversold conditions. It must be noted that the GSCI Industrial Metals Index oscillator must be analyzed ibn conjunction with the rest of GSCI Industrial Metals Index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the GSCI Industrial Metals Index RSI.
GSCI Industrial Metals Index overbought conditions
GSCI Industrial Metals Index is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the GSCI Industrial Metals Index is overbought it is often due for a correction. Values of the GSCI Industrial Metals Index oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the GSCI Industrial Metals Index quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

GSCI Industrial Metals Index RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when GSCI Industrial Metals Index is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During GSCI Industrial Metals Index uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

GSCI Industrial Metals Index returns

MacroVar calculates GSCI Industrial Metals Index returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

GSCI Industrial Metals Index returns = (GSCI Industrial Metals Index Closing Price – GSCI Industrial Metals Index Previous Price)/(GSCI Industrial Metals Index Previous Price)

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