Commodities Indicators: April 2010

Includes: GSC, GSP, SPY
by: Francois Soto
Commodities Indicators
  • World Commodities Demand model is calling a significant appreciation of its underlying within the next 6 months. GSCI TR Index closed at 4494 points in March 2010 and could appreciate by more than 20% since then. Keep in consideration GSCI TR is more than 60% based on oil (4).
  • Crude Oil Valuation model just reached again its overvalued territory. Historically, crude oil price declines once reaching this boundary but it can take some time before it does. It is quite possible for crude oil to keep increasing well above the red line as it was the case in 2008 (5).
  • Sea Storage Tankers kTonnage data is officially discontinued, we will replace it next month (6).

(Click to enlarge)
Disclosure: No positions