Commodities See 1st Rally In 3 Weeks
Ed Carlson | Apr 13, 2016 03:53AM ET
Commodities iShares S&P GSCI Commodity-Indexed (NYSE:GSG) saw their first rally in three weeks last week with a gain of 3.98% to close at 329 (thanks to Friday’s 4.05% gain). If BWI hadn’t moved into a confirmed sell-mode last week, commodities look as if they are extending the Jan. rally. Bulls wait for a close over the March high at 337. Bears get short on any sign of a double top near that same level.
Longer term, a 3yr cycle low was due early this year and looks increasingly to be in our rear view mirror.
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