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U.S. Dollar is doing something it hasn’t done in 10-years… breaking from its decade long falling channel at (1) above. At the same time the Euro is breaking support inside of its falling channel.
Is the US$ strength the cause for these leading commodities to be breaking support in the 4-pack below?
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Below an equal weighted Commodity Index ETF (GCC) is breaking down below support, of a multi-year flag pattern!
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We will see if the breakdown in a variety of commodities could be suggesting a couple of things….Slower global growth and funds continuing to flow towards the U.S. $ and away from the Euro.
