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Friday, March 29, 2024

Double-Top for $CRX?

Double-Top for $CRX?

Courtesy of Tim Knight at Slope of Hope

The Morgan Stanley Commodity Index ($CRX) seems to have pushed up to a double-top. Even better, this top is just a little lower than the one on June 11th, which bodes well for bearishness. It’s also (again) at a major retracement level.

0805-comm, $CRX

Today had been going quite well for me, but we’re already into the "final 90 minute profit-erosion". We’ll see where things wind up at the end. Yesterday’s last-minute push was just embarrassing to watch, but we could be in for it yet again (which would make it, what, the 87th time in a row?)

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