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Just because the CRB Index has suffered its biggest weekly decline in a few years does not confirm a new trend, yet investors should not be surprised by the downside action considering that this index was hitting such a key Fib resistance level at the top of a rising wedge.
Too soon to tell if a 2008 repeat is at hand at this time! The “Power of the Pattern” was suggesting at least a two-thirds chance that the CRB would head lower and this was one heck of a week as it broke lower support!
