Nice bullish pullback on CRB core commodities index after hitting resistance on the 38.2% Fibo retracement level of 283.
Golden cross is also imminent (50-day crossing 200-day MA).
A break below the 23.6% Fibo level of 272 will however invalidate the idea.
Fundamentally however, the weak data and economic growth from China is negative for commodities.
Golden cross is also imminent (50-day crossing 200-day MA).
A break below the 23.6% Fibo level of 272 will however invalidate the idea.
Fundamentally however, the weak data and economic growth from China is negative for commodities.