Commodities Update

Commodity Momentum: Brent crude slowing and Milling wheat turning

Ole HansenOle Hansen , Head of Commodity Strategy, Saxo Bank
Filed in Commodity update
Denmark, 22 October 2012 at 11:27 GMT+0
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Following the extra leg down on Friday the metal sector remains in corrective terriotory with all metals showing negative momentum. The only changes registered since the last update are the slowing positive momentum in Brent crude following the  three dollar sell-off on Friday together with Milling wheat where momentum is turning positive following news about a Ukrainian export ban and Russian exports drying up due to high prices and lack of supply.

Momentum indicator on major commodities

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Saxo Bank provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Saxo Bank accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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