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Tradable Rally in Commodities

Commodities / CRB Index Feb 10, 2015 - 04:15 PM GMT

By: Ed_Carlson

Commodities

Throughout 2014 my commentaries warned of no bottom in commodities until near year-end. Gold got an early start in November but, looking at the S&P GS commodity index, it appears the remainder of that group found a low in January. However, while this may be a tradable rally, cycles point to the bear market getting started again by later this year.


February looks positive for commodities until an 18 week cycle high comes due near the first week of March.  While the index can be expected to have its ups and downs throughout the year, the trend should be up until a 22 month cycle high in October after which a 3 year cycle will begin to exert a downward pull into a low no sooner than year end (chart).

Globally traded commodities are priced in US dollars and thus are expected to price inversely to the dollar. A 40 week cycle low due, ideally, in September is close enough to the 22 month cycle high in commodities due in October to lend confidence to the forecast for a tradable rally in commodities until this fall.  Last Thursday was a short-term cycle low in the dollar but the next short cycle high is due this Friday.

Try a "sneak-peek" at Lindsay research (and more) at Seattle Technical Advisors.

Ed Carlson, author of George Lindsay and the Art of Technical Analysis, and his new book, George Lindsay's An Aid to Timing is an independent trader, consultant, and Chartered Market Technician (CMT) based in Seattle. Carlson manages the website Seattle Technical Advisors.com, where he publishes daily and weekly commentary. He spent twenty years as a stockbroker and holds an M.B.A. from Wichita State University.

© 2015 Copyright Ed Carlson - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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