Research (Investicniweb.cz)
Commodities  |  June 01, 2012 08:28:02

Technical Analysis: Commodities are off to a short-term growth



Continuous Commodity Index (CCI), which investors often use to gain a broader view of commodity markets is an interesting level. CCI is perceived as a major benchmark commodity prices, consists of 17 commodity futures contracts. Currently at 50% Fibonacci retracement uptrend, which lasted from November 2008 to April 2011. (SOURCE: PEVONI - Trading Academy)

According to the chart adjusted for the effect of scrolling price index declined in April 2011 from the peak at 30 689 May 2012 by 25%. Inflationary pressures are greatly mitigated by, which for many countries is a positive message, the central bank is to focus on economic growth.

In the short term due to the dollar index (DX), which is also located at the level of potential sales, we can predict the development of commodity turnover with a strong negative correlation to the dollar index.

CCI - the index of commodity prices

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