CRB Index (337.07)

The Commodity Research Bureau Index has finally slammed into all-time high resistance established back in late 1980 !

So far, there is no evidence in my proprietary price momentum models to suggest a downturn from this historic resistance barrier, but it would be surprising if we did not see at minimum, a pause or a short term setback.

So here we have a HUGE resistance barrier in a POWERFUL uptrend. This argument has not been settled yet on the CRB Index chart. If we turn down from here, the short term negative implications for oil, gold, copper, grains and other commodities could be extremely important. A downturn from here would also suggest that we might have passed a major long term CRB Index peak.