The CRB Index of commodities - which covers 19 agricultural, energy, and metal products - has been trending downwards ever since May 2011, says Philip Allwright of www.sevendaysahead.com
During this time, it has enjoyed no more than modest corrective bounces. However, a significant recovery is now more likely, after the price rallied off the key 61.8 per cent retracement level at 265.30. A break of the 305-312 region would likely open up a move to 326.
