The Commodity Sector is about to Break Out!
My fellow Steemians,
On the following chart from KimbleCharting you can see that the commodity sector has been increasing the last 40 years.
But if you look at the short term, the commodity sector is in a downward trend channel for the last 7 years.
Currently the bulls are pushing against the 7 year resistance line.
If the commodity sector can break this resistance line, the 7 year bear market will be ended, and the commodity sector can transform from a loser to a winner!
Thanks you for reading!
https://slimbeleggen.com/trends/commoditysector-staat-op-punt-om-breken/
It would make sense although Harry Dent might have something to say about this ;)
The commodity index could continue to see a downward trend if the world sees a recession or worse yet, a depression. As food staples are included in the index, due to the Grand solar Minimum, as crops losses continue, food prices will skyrocket.