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Commodities Are Building Bases and About To Rally – Steel Market

Posted on 20 June 2014

Commodities in general have been under pressure for the last couple years. This can be seen by looking at the GCC Greenhaven Continuous Commodity ETF which holds a basket of resources. The weekly chart has formed a bullish bottom pattern, and as of last January it looks as though it’s now building a basing pattern.
Overall commodities are in the very early stages of a stage 1 basing pattern and it looks as though it will be a few more months before any significant breakout will occur. But there could be some early entry points if you know what to look for… A few days ago I talked about how commodities tend to perform well near the end of a bull market in the United States stock market. I also pointed out which hot index was going to benefit from this………………………………………..Full Article: Source


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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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