Does the commodity bull run continue?
After the crash in March 2020 we see a huge increase in the commodity market which is even outpacing the XLK ETF (tracks the technology sector) since September 2020. But is this just a transitory phenomenon or are we just at the beginning of a huge bull run in the commodity sector? When we look at the chart of the CRB-index we can see that we have a clear resistance/support-area at around 200$. Also, the downtrend line was broken in April 2021 (which is intact since 2008) and if the price closes above 200$ the downtrend would not be valid anymore. The MACD is supporting the shift in trend by indicating a positive divergence.
When we look at the fundamentals the chances of a further decreasing value of the dollar due to the broadening money supply are high which would be another tailwind for the commodity sector as the Dollar shows a significant inverse correlation with the commodity market.
Therefore, the probability of a bull run in the commodity sector is high.
When we look at the fundamentals the chances of a further decreasing value of the dollar due to the broadening money supply are high which would be another tailwind for the commodity sector as the Dollar shows a significant inverse correlation with the commodity market.
Therefore, the probability of a bull run in the commodity sector is high.
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