Commodities: trend starts to bend

The CRB Commodities Index threatens a breakout above its trend channel, while 63-day Momentum crossed above zero. Neither is of much consequence yet, but retracement that respects support at 335, or a Momentum trough that respects the zero line, would warn that the down-trend is at an end.

RJ/CRB Commodities Index

* Target calculation: 315 – ( 330 – 315 ) = 300

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