COMMODITY OUTLOOK - April 2017
In This Edition: The disparate intermediate-term Elliott Wave pattern development between underlying commodities has continued over the last month as BASE METALS attempt to run higher so as to finish an Elliott five wave impulse, a 1st wave advance from last year’s (2016’s) lows whilst PRECIOUS METALS have begun their 3rd wave sequence. There are differing drivers for each – the base metals are trending higher basis the ‘Trump-Trade’, infrastructure spending, tax reforms etc. whilst precious metals are higher because of a weaker US$ dollar and reflationary pressures. This month’s report takes an in-depth look at the progress of Copper and other base metal benchmarks along with lift-off potential in Precious metals. CRUDE/BRENT OIL has collapsed over $8 dollars barrel from last month’s highs so we’ll be examining if this decline has ended a correction, or if there’s more to come.
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