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Commodity Research Bureau Index (CRB) of late hit its 61% fibonacci retracement level at (1) and at the same time FCX was creating a bearish rising wedge at resistance point (3).
Major Trend Change at hand? Too early to tell, yet from a pattern perspective it was a great place to enter positions to score on defense in SMN & DUG! This situation could be just as important and have the same outcomes as the summer of 2008 for the CRB….