COMMODITY CURRENCIES : watching for long term reversals
​We have mentionned several times that commodities were at important junctures. On January 22nd, we mentioned the low in oil prices, and then the improvement in metals prices on February 4th. Commodity currencies have followed those moves, interrupting their downtrends in the short-term. They have not yet reversed their medium term trends though. The signal would come between 3% and 4% higher than current prices. Those signals would not surprise us. They are very likely. We do not understand yet how this can happen together with the fact that February index low is not confirmed at all by sentiment measures. We will discuss this theme again in the coming days and weeks.
DayByDay is an independent research company providing global macro and single stock analysis, recommendation and allocation based purely on behavioural finance methods. Those include long term cycle analysis, sentiment analysis, and technical trigger. DayByDay serves all clients in need of practical and precise publications to make effective market decisions, on any time horizon, from a few hours to a few years.
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