Coping With New Commodity Trends
I’ve had a lot of clients wondering how to cope with the dramatic shifts we’ve seen in many commodity markets. We are seeing more and more headlines of economic malaise spreading overseas, and commodity prices are falling amid a worldwide slowdown.
Crude oil has fallen below $108 a barrel, down about 26 percent from its all-time high in July just over $147. Gold is down about 20 percent from its all-time high above $1,000 an ounce in March, falling under $800 in recent days. I do think the commodity bull market will continue in the year ahead, but a lot will depend on the actions of the Federal Reserve and European Central BankFor now, I’m expecting commodities to struggle, and recommend a bullish dollar trading strategy. (Read rest of Phil’s article)