Gold too, down again today following yesterday's rout. $1297.90, last.
From the Short Side of Long:
Chart 1: Commodity rally is in reversal, as CCI trades below 200 MA…
Source: Short Side of LongThe rally that started at the beginning of this year is quickly reversing. While not all of the gains have been given back (yet), the truth is that the current price conditions are not looking that good for commodities. Continuous Commodity Index has now fallen below its 200 day moving average, something that rarely happened during 2001-08 and 2009-11 bull markets. The more common CRB Index is also not too far off either. Let us study at some of the individual commodities that represent four major sub sector: energy, industrial metals, grains and softs....MUCH MORE
HT: Abnormal Returns
