Commodity Weekly 04 March 2014

S&P GSCI Total Return Index


Market is breaking up from a 2 year converging range.


The S&P GSCI Total Return Index has started to erode the 2012-2014 downtrend at 5015, the gap above here does seem quite directional and the market is in the process of breaking up out of a 2 year contracting range.

Clearly we would likely to see this break confirmed on a weekly closing basis, but currently we are inclined to just go with it.

The break has introduced scope for a move to the 5400 2012 high.

It remains immediately bid above the 4925 28th February low ahead of 4840, the short term uptrend.

To know more click here PDF



Please come again to check our Market Research & Reports