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Commodities At Interesting Juncture Again!

  • Written by Syndicated Publisher No Comments Comments
    December 18, 2012

    After spiking up in 2009 and 2010, commodities have been in a bear market since early last year, the CRB Commodity Index plunging 27% to its low earlier this year. Attempts to rally were halted by the resistance at its 30-week m.a.

    However, the rally off that low has been promising, breaking out above the 30-week m.a., pulling back to retest whether the m.a. would now become support for a new bull market, with the test seeming to be successful.

    But now they’re pulling back again already. It may just be another pullback to retest the support again, but also leaves commodities still potentially in the almost two-year pattern of rally attempts topping out at lower highs. Worth keeping an eye on. 

     

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    To read my weekend newspaper column click here: A Warning From Inflation, The Dollar, And Mining Stocks! 

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    Images: Flickr (licence attribution)

    About The Author

    Sy Harding publishes the financial website www.StreetSmartReport.com and a free daily Internet blog at www.SyHardingblog.com. In 1999 he authored Riding The Bear – How To Prosper In the Coming Bear Market. His latest book is Beat the Market the Easy Way! – Proven Seasonal Strategies Double Market’s Performance!

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