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MacroVoices #347 Ole Hansen: Commodities Can Go Up Even In Recession

Macro Voices

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Is the Market Ready for Any Further Increase in the Price?

The market is completely unprepared for any further increase in the price. Technical picture not really sending any strong signals right now so that's probably the reason why we see such relatively low positioning even though we have commodities still at quite elevated levels. If we do see breakouts or we see some renewed demand come into the individual commodities then we will also see these funds reversed back into the market and that will provide some additional tailwind. I just want to add my own endorsement Ola which is if you try to process the government published commitment of traders data yourself it's incredibly arcane and difficult to follow your graphs and charts are absolutely fantastic and they're free of charge.

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