Commodities topped in 2007 and broke down quickly to the 1×1 ascending diagonal. Price on the Commodities Research Board (CRB) index bounced in February and topped out a few weeks ago at the 1×4 angle from the 2001 low. It would not be surprising to see price correct back to the 1×1 angle at a minimum.
The Iron and Steel index rose above the 2×1 angle and has dropped back to that line.
The Aluminum index has only corrected for almost 26 weeks but looks much weaker than the previous two charts.
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