Courtesy of Chris Kimble
Commodities have been one of the few winners in 2022. But with elevated commodity prices, consumers are now left with an ugly dose of inflation on everyday costs (food, energy)…
And with falling stock prices, they are getting a dose of deflation in their investment portfolios. Not a good combination.
Today, we take a closer look at the bull market in commodities and why we may be at a key trading juncture, from Marketsmith.com.
Below, you can see a chart of the popular commodity ETF $DBC. And highlighted in green is a trading pattern that looks to be a bullish ascending triangle. A breakout at (1) would suggest that commodities (and inflation) will remain red-hot.
Seems like right now would be a good time to put this on your watch list… whether it’s for your portfolio or pocketbook!
As mentioned in the chart, if support breaks, investors will want to take profits in commodities.
This article was first written for See It Markets.com. To see the original post CLICK HERE.
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