When conducting analysis to determine where resource stocks may be heading in the near to intermediate future, one of the main charts, amongst others, that I consult is the Continuous Commodity Index ($CCI). The $CCI is a benchmark of performance for commodities prices. It is an equally weighted index using 17 commodity futures prices. Each commodity represents 5.88% of the index.
The above weekly chart of the CCI provides three important insights into commodities price action over the last three to four years: