Commodities primed for an upturn

There is little to be bullish about in equities, so what about commodities? Precious metals have been on the rise for a while, but some of the 'soft' commodities look primed for an upward run too.

In the last edition of "Commodities Corner" on January 26, we noted the following about the oil market:

"On the technical side, we have the descending 50-day moving average which is pegged right now at roughly $49.50/barrel, which should put a lid on this most recent upswing in prices. If it falls from there, we could go quickly back to $40/barrel. But if it blasts through the 50-day moving average, we could see a quick run up to at least $60/barrel."

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