What Are Commodities Up (or Down) To?

What are the charts telling us about commodity prices? Crude oil should continue to move lower, gold will keep grinding higher (but with a caveat) and the yield on the 10-year Treasury should continue to fall. For more details, let's go to the charts.

After yesterday's bruising session, West Texas Intermediate crude oil is trading near its lowest level for the year. Yet according to the charts, there is more downside ahead. Yesterday, oil broke down from a bear flag formation (shaded blue), a bearish consolidation pattern. The bear flag projects oil down to about $43.80, which also marked the intraday bottom in May (arrow)....366 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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