Commodities Seen Broadly Higher In The Coming Weeks

Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Contributor Since 2017

XATSUK Ltd provides Cross Asset Technical Strategy research and consultation. I have 25 years' experience in consultancy and Private Banking, providing impartial research and analysis to investment professionals and companies. My research techniques include classical Technical Analysis and my proprietary Tension Indicator. XATSUK Ltd and all affiliated staff do not hold positions in any financial instrument in any financial market.

Summary

  • Commodities continue to show broad strength
  • Energy - Oil, Natural Gas - also strengthening
  • Gold, Copper and Agriculture are muted

The PowerShares Commodities ETF (DBC) is extending higher.

Commodities continue to strengthen

A significant rally is now highlighted in the coming weeks, as the 2016 bull trend gains traction.

Focus is turning to the 17.50, (38.2%) Fibonacci retracement of the 2014-2016 fall.

Any immediate pullbacks to remain limited, as investor sentiment continues to improve.

An unexpected close below 15.50 would delay gains and prompt a Downgrade to Neutral.

To access the full report, covering the broad Commodities ETF (DBC), Gold, Silver, Platinum, Crude Oil and Natural Gas futures, High Grade Copper futures, Corn, Soybean and Wheat futures, please visit our website.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.