EUR 243.66 For Business Accounts Only

COMMODITY OUTLOOK - Base Metals Forming 1st Wave Peaks - Precious Metals Dip - Energy Awakens!

In This Edition:

This month’s report has two distinct price-forecasts leading in to year-end. On the one hand, the CRB-Cash index remains very bullish but this is all to do with an upward surging price expectancy for Crude and Brent Oil. On the other, we see a deterioration in core commodities like Iron Ore which ended a corrective upswing last year, but has spent most of 2017 resuming its downtrend which began from the year-2011 all-time-peak.

This bearish tone is also apparent in Base Metals. The grand ‘Re-Synchronisation’ lows of 2016 triggered the beginning of a 2^nd phase of medium-term price advances within the decennial ‘Inflation-Pop’ schematic, but a corrective pause is forecast over the next several months. Copper is heading into an intermediate-term peak as are the others, Aluminium, Lead, Zinc and Nickel.

Gold prices began a persistent multi-month corrective downswing from last September’s peak which is far from over. Shorter-term, an upside rally is unfolding into an inverse pattern to the US$ dollar, but overall, we examine the downside risk over the next month, and into the early part of 2018. Precious metal mining stocks also look vulnerable to another swing lower before the larger medium-term uptrend is re-established.