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Commodities are waking up from the support with the help of China stocks and there’s room for more upside as shared back on June 08. Link here.

Bloomberg commodity index with ticker AW made a nice three-wave (A)-(B)-(C) correction with the wedge pattern into wave (C). Unless it has alternatively unfolded a leading diagonal from the highs. Anyway, in both cases we can expect a recovery, at least for a temporary period of time.

Currently, we can see it nicely breaking out of the projected wedge pattern, which indicates a bigger recovery, at least back to the starting point of that wedge pattern near the 120 area, or maybe even higher if correction is completed.

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