Weekend Commodity Wrap-Up

Weekend Commodity Wrap Up

Sep 16, 8:53 am | Weekend Commodity Wrap-Up

Commodity Index The CCI/CRB index closed the week slightly lower, but was able to hold an open chart gap. Note that the CRB index gapped higher last week with a push above last week’s high to confirm a more bullish commodity outlook. Chart wise, the index is in its most bullish technical configuration since January 2015. Index and managed fund managers are taking note of the more bullish condition of the general raw material market. With US equities at record highs, they are looking for diversification.   The US dollar closed the week slightly higher, still in a bearish trend. However, the USD is trying to forge a bottom. A close below 91.00 in the USD index is needed to…

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