Major Commodity Indices reaching a roadblock – how will these affect the commodity stocks? | Technical Analysis | Commodity Indices

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Both the CRB and the DJC commodity indices are near the crucial 50% retracement level, which will act as strong resistance. Prices will definitely not sail right past this level, hence there will have to be some sort of reaction, for example like a pullback or consolidation, or even a correction. This could act as a drag on commodity stocks in the coming weeks. This once again highlights the importance of tracking the various global markets, even when your main market is the Singapore market. Stay tuned!

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Spencer Li

Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.