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Headlines from around the world are focused on the election results from Greece. Is “Greece” the key word or is it about to be “De-flation?”
Two decent barometers of global pricing pressures, Copper and the MS Commodity Index (CRX) may have created multi-year head & shoulders patterns, with the neckline support being tested right now.
Should the necklines break in these patterns, the key action by traders would be to sell and the key headlines would become stories about deflation/lower prices!