GSCI Commodity Index - Will the Bull Shakeout End the Correction
The commodity bull market that began in 2020 might not be over yet. The last three years, 2022, 2023, and 2024, could merely represent a healthy retracement within a larger bull market. A few months ago, there was a minor panic just below a clear support level, after which the market rebounded, suggesting that such low prices were not sustainable in this market. Currently, on a 10 day timeframe, the MACD has issued a buy signal. I have no idea if this buy signal will ultimately propel prices much higher, but considering the recent shakeout of the bulls, I remain bullish.
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