Is Inflation Cooling Off? Watch This Commodity Index
2022.09.15 11:29
[ad_1]
Rising prices have hit consumers hard and disrupted balance sheets in corporate America.
Even more interesting is that we have while the is strengthening. Crazy times.
In any event, two of the most significant inputs are energy () and agriculture (food). Both of these (and more) play a hand in the overall .
Today, we look at a long-term weekly chart.
CRB Commodity Index Weekly Chart
As you can see, commodities rallied sharply over the past two years, reaching the 61.8% Fibonacci retracement level (resistance). At this point, CRB peaked—and it also coincided with the government inflation bill.
If support fails to hold at (1), odds increase that commodities will actually start cooling off. Investors (and consumers) sure hope so. Stay tuned.
[ad_2]
Source link
