A base breakout with the CRB a show of optimism for economic cycle – as long as it sticks.
This index of commodities says buyers are paying more, which either means there’s increased demand or a smaller supply. Higher prices often comes with increased business activity at this stage of the economic cycle – especially with leading index copper as well as aluminum. Copper, CU, happens to be forming a right side of a lower base.
Here’s the whole package:
Aluminum, Cocoa, Coffee, Copper, Corn, Cotton, Crude Oil, Gold, Heating Oil, Lean Hogs, Live Cattle, Natural Gas, Nickel, Orange Juice, Silver, Soybeans, Sugar, Unleaded Gas and Wheat.