07.11.2014 - Are Commodities at a Major Turning Point?
As most of you probably know, I have been expecting the CRB to form a major three year cycle low sometime next summer. However, I’m now starting to see some things that might indicate a major cycle bottom is going to occur earlier than I expected. Since oil is the main driver of the CRB, and most commodities will follow its lead, I’m going to focus on the action in oil. Notice in the next chart that oil has now reached oversold levels similar to, if not more extreme than, the previous two 3 year cycle lows...............................................Full Article: Source
Print