Chart of the week – focus on resources

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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.

Chart reproduced with permission from Beyond Charts www.beyondcharts.com.

The above weekly chart of the CCI provides three important insights into commodities price action over the last three to four years:

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