In this post, we will be taking a look at commodities and commodity currencies, as like the USD are at a BIG inflection point. Let’s start off by re-posting the daily price chart of the USD Index.
1. USD Index Daily Chart: ST Triple top confirmed BUT at familiar support levels
2. BCOM Index: At early ’19 support pivot and RSI showing signs of a bullish divergence.
3. Precious metals leading the commodity complex, crude halted its decline temporarily tail end of this week.
5. Inflation expectations are at exactly the same price position as the BCOM Index and looks like its nearing the completion of a 5 wave decline. Commodity currencies led by CAD starting their correction.