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Commodities Briefing - Categorized | Performance more

Commodities Reverse Their Gains

Posted on 15 July 2014

The rally that started at the beginning of this year is quickly reversing. While not all of the gains have been given back (yet), the truth is that the current price conditions are not looking that good for commodities. Continuous Commodity Index has now fallen below its 200 day moving average, something that rarely happened during 2001-08 and 2009-11 bull markets.
The more common CRB Index is also not too far off either. Let us look at some of the individual commodities that represent four major sub sectors: energy, industrial metals, grains and softs. We start with the granddaddy of all commodities and a barometer of global economy, Crude Oil. Personally, I prefer to use Brent Crude Oil, as it represents global demand and supply story a lot better. As you may recall from a few weeks back, we were discussing a technical breakout in Brent Crude Oil out of its multi-year triangular consolidation pattern……………………………………….Full Article: Source


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This post was written by:

VRS - who has written 37561 posts on Opalesque Commodities Briefing.


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