Commodities Weekly (24 Jun ’17)

 

Commodities remain under pressureInvestors are bearish the broad Powershares Commodities ETF Index (DBC).

Prices are poised to break below the 13.90, (50%) Fibonacci retracement as momentum studies and the Tension Indicator continue to weaken.

Next significant support is at the 13.40~, (61.8%) retracement.

A close above the 14.24/50 area would improve sentiment and turn investors neutral.

 

 

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