CLICK ON CHART TO ENLARGE
Commodities haven’t been a good place to be the last couple of years, unless you were on the short side.
At this time the CRB index is attempting to push above falling resistance that has been a challenge for this index for the past few years.
Joe Friday shared a similar line was in play in Coffee a week ago today (Follow Coffee breakout) and that investors would want to follow a breakout. It looks like Coffee (JO) is breaking resistance.
Joe Friday…A breakout above resistance would be bullish for the CRB index, which could impact several commodities in a positive way and has the potential to scare bond players too, per higher interest rates!