Parabolic moves

Parabolic moves

By: Gary Monday, November 03, 2008 11:17 AM

Sectors: Finance

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I've noted in the past that parabolic moves are not sustainable. Not on the upside or on the downside. We are now seeing an extreme decline in the CRB. I doubt this move is sustainable. As a matter of fact you can see on the weekly chart that we may be at the beginning of a bounce.

On the daily chart we can see that the trend from the last month has now been broken. Any bounce in the CRB will probably correspond to a correction in the dollar. As I noted in a previous post the dollar is now in a parabolic rise that will need to be corrected also. I think the odds are good that the dollar correct and commodity bounce is starting.

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