Commodities short term pullback? (3/5)

AMEX:GSG   iShares GSCI Commodity-Indexed Trust Fund
Conviction: 3/5
Risky over the next 6 months, perhaps triggered by fed raising rates in March?

Commodities ( GSG , DBC ) showed real strength over the last two years.

However, looking at weekly RSI it looks a bit exhausted (using data from bear market in the last 10 years)

Typically with breakouts, the asset will retest former resistance.

Also, looked like 5 waves up from 2020 low. Reaching fib level 2. Invalidated if it goes up?

Long-term view still positive.


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