CLICK ON CHART TO ENLARGE
Can Commodities rally? For sure, anything is possible! See original CRB counter-trend post (see post here)
From a “Power of the Pattern” perspective, the CRB index remains inside of its falling channel and has created a short-term bearish rising wedge. These patterns suggests the odds are around two-thirds that the CRB index continues to move lower in price.
Some where down the road resistance will finally give way, especially since this broad based index has fallen 15% from its May highs. I would want to follow a breakout should it take place … yet at this time, channel and wedge resistance remains in place!