Today is December 18, 2018. The US Fed meets on Wednesday, December 19, 2018.
Not much to say; just watch and wait.
I am neutral this CRB Index.
With oil oversold and the CRB Index oversold, it won't be a surprise if after the US Fed meets this week, we get some type of risk on sentiment flowing back into the markets.
I watch this drop...
For me, one of the difficulties with any attempts at technical analysis is factoring in your mood when looking at a chart. Bad mood = bearish count, good mood = bullish count. I guess I woke up a bit grumpy this morning as this count for commodities is about as bearish as they come. If, and that really is a big if, this count has any merits does it also mean that...
A weekly chart informed from a monthly chart's support and resistance. As you can see from here, the CRB index fell from the monthly resistance above after forming a new high breaking resistance (also a yearly autp pivot point). It pulled back to the 38% level, which is also a weekly support level.
CRB Commodity Index on 8/15/18 broke down from a 2018 Head And Shoulder's Pattern,
a reversal of fortune, the implications of which seem to imply that inflationary pressures may have reached a peak
for the year, and with that, a slowdown in world economic growth, foreshadowed by the recent decline in world stock indices,
and US interest rates.
At the same time we see:
- DXY on massive support
- EUR/USD under massive resistance
- Gold under resistance:
- Quantitative tightening from the fed which should result in USD...
CRB Index Commodities Index: TRJEFFCRB
The CRB index - Back-up Confirmation for Gold and Oil Trades.
It's useful to know which way the greater wind blows before
setting sail. This wind is with the bulls and has been off and
on since June. It's making a nice trend of its own, grinding
away each bear in its path until 195.62 is reached - up about