CRB index on Support - go LONG ?
Following my last post on Crude, i am showing the weekly chart of the Thompson Commodity CRB index. Right now its sitting at around 206.95.
The old saying "Old Top becomes New Bottom" could be a valid case here.
Crude oil is the largest constituent in the CRB index and it affect the price greatly. Follows by Hard then Soft metals (except gold).
So my opinion is Copper will also rise together with oil.
Let's keep an eye on this.
The old saying "Old Top becomes New Bottom" could be a valid case here.
Crude oil is the largest constituent in the CRB index and it affect the price greatly. Follows by Hard then Soft metals (except gold).
So my opinion is Copper will also rise together with oil.
Let's keep an eye on this.
Kommentera:
this analysis has worked out very well so far .
