Video: Crude, Copper, and Gold Prices Pace Commodity Rebound
• A range of commodities are posting an impressive rally with distinctive technicals, if not robust fundamentals
• Commodities reflect 'risk appetite', global economic trends, supply considerations and unique factors
See how retail traders are positioning in the Commodities and Commodity currencies on DailyFX or bring the figures to your charts using the FXCM SSI snapshot.
How committed are the bulls in the commodity market? Gold prices started their surge over a month ago, and have since cleared key technical resistance. The gravity of the reversal in oil prices is a fundamental cue to the asset class in-and-of iteslf, and the recent break above the 200-day moving average gives technical authority. But what about the rest of the market? Commodities as an asset class reflect a range of fundamental aspects to the broader financial system. At their most basic, demand for the raw materials are a reflection of global growth. Yet, there is also a definitive 'risk appetite' surrounding their value as well. Some are find more influence from sentiment, supply, demand or another factor. We look at some of the most impressive commodity developments this past month and reflect on its tradability in today's Strategy Video.
To receive John’s analysis directly via email, please SIGN UP HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.