From the desk of Steven Strazza @Sstrazza and Ian Culley @Ianculley
Commodities continue to rip higher.
Copper is breaking out to new all-time highs. Soybean Oil is trading at its highest levels in over a decade. These moves come as Grains, Lumber, and Base Metals have resumed their near-vertical ascent over the past couple of weeks.
But risk assets hitting our price objectives or running into logical levels of supply are key themes playing out across the market right now.
As many commodities approach key levels of potential resistance, it raises an important question…
Will sellers step in as they have in stocks?
Let’s look at some charts that could provide valuable information for answering this question. [Read more…]