Commodities Analysis and Opinion

Commodities Wedge Pattern Should Lead to Huge Move

2024.02.05 14:32

Chris Kimble

During the COVID pandemic, commodity costs soared. And this lead to a bout of inflation that we hadn’t seen in years.

But commodity costs have leveled off and this has helped to hold inflation in verify.

Thomson Reuters Equal Weight Index-Monthly Chart

Thomson Reuters Equal Weight Index-Monthly Chart

This consolidation-like sample will be seen on at this time’s “monthly” chart of the Thomson Reuters (NYSE:) Equal Weight Commodity Index (CRB).

The final time we noticed a huge wedge sample, it broke to the draw back. But I humbly don’t know which means this sample will break.

But I do assume that when it does make a decisive transfer out of this sample, it is going to be a giant deal. So it’s value holding in your radar. Stay tuned.

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