No End in Sight for Commodity Crash With Charts Sending Bear Signals
- Money managers’ copper position swung to a net-short: CFTC
- Crude oil rallies, defying sell-off in raw materials
This article is for subscribers only.
What’s next for commodities after a recent price collapse? It looks like more bad news, if the chart watchers are right.
The Bloomberg Commodity Index has tumbled about 10 percent from a high in May amid mounting concerns that a trade war could derail global growth, curbing demand for everything from aluminum to soybeans. Even gold, a traditional haven asset, failed to catch a bid as the dollar strengthened and the Federal Reserve signaled more increases in borrowing costs this year, curbing the investment appeal of the non-interest-bearing metal.