CRB Commodity Index Monthly Chart Analysis 10/10/2015

Please google CRB in order to find out the basket of commodities which it represents. A broad base analysis of the commodities is a must in my opinion in order to prepare us for the next anticipated COMMODITY BULL RUN in the months ahead.

I have gone back 20 years with CRB Chart in order to mark key levels. 180 zone had been a MAJOR CHART SUPPORT dating back to 1999. Please look at the third last candle in on the chart ( August 2015). A very bullish candle at a MAJOR CHART SUPPORT within a downtrend. Power of the bear had been unable to force this index to new lows since then ( so far anyway). In the absence of volume on the charting software with CRB, I can only comment on price action. Although the 2009 GFC low was penetrated we are now trading above it as of this writing. All prior bottoms (1999,2001,2009) were made in 5-6 months.  Would this be the case this time around ? Shall we expect a major bull run one more time over the next few months perhaps ?

Confirmation from PRICE ACTION first and foremost.

1)I am waiting to see an EOM (end of month) PIVOT POINT REVERSAL ( Bar chart terms, candles shown)  as far as the price action is concerned. ( First to unfold in my opinion)

2) A MACD X/OVER which had been accurate at each past turning points in major bull runs is the next requirement.

3) An end of month, monthly close, above the 12 period SMA in Blue is the third requirement.

Keep an eye for above three, as we may find ourselves in a MAJOR BULL RUN with commodities sooner than we think.

Chart courtesy of StockCharts.com

crbmonthly

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