Courtesy of Doug Short
It’s Friday, and Chris “Just the Facts” Kimble returns for a cameo Dragnet impersonation, this time with a look at the recent nerve-wracking behavior of the Commodity Research Bureau (CRB) Index.
Chris comments: The CRB index has just witnessed its largest weekly declines since 2008. The index hit its Fibonacci 61% retracement level from the 2008 peak when crude oil hit $140. This week’s decline broke support of a bearish rising wedge. Too soon to tell if a major trend change is in place, yet if it is, it could be a game changer like 2008.
For the most up-to-date Kimble analysis, check out Chris’s blog: Kimble Charting Solutions.
