During the COVID pandemic, commodity prices soared. And this lead to a bout of inflation that we hadn’t seen in years.
But commodity prices have leveled off and this has helped to keep inflation in check.
This consolidation-like pattern can be seen on today’s “monthly” chart of the Thomson Reuters (NYSE:TRI) Equal Weight Commodity Index (CRB).
The last time we saw a gigantic wedge pattern, it broke to the downside. But I humbly have no idea which way this pattern will break.
But I do think that when it does make a decisive move out of this pattern, it will be a big deal. So it’s worth keeping on your radar. Stay tuned.