The daily bar chart for the Goldman Sachs Commodity Index (GSCI) shows the near-term technical posture for the gauge of the raw commodity sector remains bearish. It’s my bias that this major bust cycle in raw commodities is closer to ending–probably sometime in the first half of 2016. However, if the GSCI drops to a new multi-year low, identified by the support line seen on the daily chart, then it would be likely the raw commodity sector slump would grind on for at least many more months. By the way, I have some educational tools that can help you out. Click here to find out more about my unique educational products.–Jim
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(Analytical chart above is derived from FutureSource’s WorkStation)
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Interesting take on things. I happen to have a similar view and see commodity markets, but more specifically hard commodities as not having bottomed yet. I recently published a blog post with my views. It’s pretty detailed, so perhaps just read the conclusions section if you’re short on time.
Interested to hear what you think: http://thenudeinvestor.com/commodity-markets-time-to-buy-or-run/
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