One of the most interesting chart patterns currently in the realm of the commodities market is the Materials Select Sector SPDR. As you can see below, the price has also recently closed below its 200-day moving average and has experienced a sharp move lower. The bounce so far in November has sent the price back toward the new-found resistance levels, and it could be an ideal time for opportunistic bears to take a position given the lucrative risk-to-reward ratio. The recent bearish crossover between the 50-day and 200-day moving average is known by technical traders as the death cross and is often used to mark the beginning of a long-term downtrend. Recent price action is signaling that the bears are still in clear control of the momentum, and many traders will be keeping an eye out for a move toward the swing low near $50.
Source : https://www.investopedia.com/news/3-charts-suggest-commodities-are-move-lower/