CRB Index has been trending steadily since the time the logistics issues cropped up along the Covid wave across countries , gaining additional impetus from the crude oil rally - ukraine war. However off late its a bit surprising that so many of the commodity shortage or panic demand factors are so quickly priced in , as the ending diagonal in CRB almost makes it...
Nifty has made a bullish maribozu - a single candle stick line which denotes an ensuing strength to follow through.
But to note we are in a bear market and in this context the uptrend could mostly represent a bear market correction , not expected to end any time in short term.
The recent dollar index bounce back has led to many commodities to weaken and as a result, Crude oil has made a descending triangle break down on the 4-hrly chart. The next big number due to release this week, the Non-Farm payroll may not be a major event as the FED rate hike is already being factored in the dollar index rally. However timing a short trade is...
The early 2016 CRB Index (Commodity) recovery just enough resulted a minor recovery in the Copper prices as evident by a consolidation. Looking at the weekly momentum setup being weak, Copper is loosing most of its gains made in early 2016 and currently is in the brink of seeing a break down below the trend line. Copper typically being an asset class, best...
The Sugar futures has sown an impressive run up into the 20 Cents/Lbs mark especially when the dollar correction of the last few months has resulted in a strong appreciation of South American currencies, specifically the Brazil Real. The technical significance of Sugar has been, that its strongest among the Softs. This triangle in the making is a likely...
The A-B-C flat correction shown in the range, may be signaling Gold futures could be bottoming soon. Though the dollar strength for short term could momentarily subdue Gold prices, but sell offs are much difficulty at this point. In the Flat correction the C leg which generally takes shape of 5 leg down, currently seems to be undone or rather a 4th reactionary...
