Short term view - CRB Index : Pull-back
The trend has been momentarily interrupted by a correction. It approaches the resistance at 200.5420 pts, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at 187.3540 pts. The invalidation level is below 200.5420 pts.Arguments :
- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.
- The moving average is capping prices.
- The bearish gap opened as prices break out of the pattern announces a fall.
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