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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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