Commodities Essential - December 8, 2011

Outlook not so clear, but today might help … 


 


The price action has been less than helpful. But that may be because the news from Europe was so completely uncertain up through today that no one really knew which way they wanted to place their bets.



Regardless, the indecision seems to be setting up the market for a big break. I would bet that break is lower, but I’m waiting for some confirmation before I decide it’s time to jump in. In the meantime, there are plenty of fundamental themes to factor in that could prove influential in the next three to nine months.


 


Plus: a look at some weekly charts, my bias and key support/resistance levels … 



Commodities Essential. 8 December 2011