Image Source: Pixabay

Thomson Reuters Commodity CRB Index is a price-weighted index that tracks the performance of a diverse basket of commodities, including energy, agriculture, metals, and livestock. When inflation started to cool down in 2022 and 2023, the CRB commodity index came nicely lower within a leading diagonal pattern for wave (A).

Currently, we can see it trading and potentially finishing an A-B-C corrective recovery within wave (B) due to a slightly higher inflation recently. However, now that it may turn lower for wave (C) again, seems like inflation might slow down again and it may potentially reach the 2% target.

(Click on image to enlarge)

For a detailed view, you may want to watch below our latest recording of a live webinar streamed on May 13, 2024.

More By This Author:

DAX Remains In An Impulsive Bullish Cycle As Anticipated
Japanese Yen To Stay In The Recovery Mode, While Yields Are Turning From Resistance
Total Market Cap In Deep Corrective Retracement