Please try another search
Commodity prices have skyrocketed over the past few years, but today we put the move higher into perspective.
And we do this by looking at a long-term monthly chart of the Thomson Reuters Equal Weight Commodity Index.
As you can see, commodities have been trading within a wide, falling price channel. The big rally from 2020 to 2022 saw the Equal Weight Commodity Index go from the bottom of the channel to the top at (1). That top was also marked by the 61.8% Fibonacci retracement.
Commodities have now declined nearly 20% from roughly one year ago and are testing important near-term price support at (2). If this index breaks below support here, it could mean a bigger decline in commodity prices is underway. Stay tuned.
Europe has diversified crude oil sources, albeit at a higher cost Saudi Arabia and the U.S. have become more important crude oil suppliers Russian-made diesel imports have also...
Gas market at pivotal stage between end of storage draws and start of injection The just-ended winter, one of the warmest, has left incredible gas balances Challenge now is for...
Gold mining stocks and silver are the riskier parts of the precious metals sector. Generalist capital always favors gold first and second before considering miners and silver. Gold...
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.