Commodities rally

The CRB Commodities Index did not follow gold lower and is testing resistance at 335. Respect of resistance, signaled by reversal below 325, would confirm the primary down-trend — offering a target of 295*. Penetration of the declining trendline is unlikely, but would warn that the down-trend is weakening.

CRB Commodities Index

* Target calculation: 315 – ( 335 – 315 ) = 295

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