Commodities: Near-term peaks in gold and oil

The Dow Jones/UBS Commodity Index bubble burst in 2008, and has been on a corrective downward trend since 2011, notwithstanding a short-term rally this year. According to Brian LaRose at United-ICAP, this rally is about to reach a top for the gold and oil markets based on the forthcoming end of a 5 wave advance. This would mean a potential target for the index of 122 from the current around137.

 

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