CRB index at critical juncture, to foreshadow a
fall in the POG?
marketcenter.com
>>>>TECHNICAL POINTS TO WATCH IN THE BRIDGE/CRB INDEX
(CRB)
254.79 -- May 29, 1997, high; highest since May
1996
250.86 -- top of gap on daily charts left by May
30 collapse
247.62 -- Oct 8 high; highest since early June
240.00 -- support/resistance sling line
236.00 -- support point on weekly chart in
February 1997 235.00 -- support/resistance ridge in
February
232.44 -- formerly charts, now resistance
231.74 -- double top in March on hourly charts
229.49 -- 50% retracement of Apr 1996-Aug 1998
collapse 228.84 -- bottom of old trading range, now
resistance 227.84 -- reversal peak on daily chart
set Apr 2 224.47 -- bearish "cloud cover" peak on
hourly candlestick charts 221.56 -- former yearly,
4-year low set Jan 12, now resistance 221.38 --
38.2% retracement of Apr 1996-Aug 1998 collapse
220.00 -- major support/resistance swing line on
charts
dating back to January 1991
218.44 -- previous trading range lows, now
resistance 216.75 -- double top on weekly charts
216.53 -- old range high
213.39 -- former support ridge on daily charts,
now resistance 212.86 -- former double bottom on
weekly charts, now resistance
212.24 -- Jly 17, 20 highs; double top on daily
charts 211.99 -- 50% retracement of the February
'98-Dec '98 decline 209.21 -- former support ridge
on daily charts, now resistance 208.42 -- previous
5-year low set in June, now resistance 206.73 --
old trading range high set Nov 6 206.30 -- 38.2%
retracement of the Feb '98-Dec '98 decline
206.06 -- Aug 11 breakdown high
202.57 -- minor channel line resistance from the
old August low (rising at 24 bps/week)
200.00 -- key swing point on long-term charts
190.23 -- Monday's high
>188.54 -- Monday's close
187.89 -- Dec 21 low; lowest level since August
1977
184.70 -- August 1977 low; lowest since July 1975
183.50 -- Jly 2, 1975, low
182.30 -- low on monthly charts
180.30 -- June 1975 low on monthly charts
179.00 -- Mar 10, 1975, low
175.10 -- March 1975 low on monthly charts
174.60 -- Jun 18, 1973, low
NOTES: The CRB broke down again Monday and moved
within striking distance of the 21-year lows set in
December. The CRB is now at a critical juncture, as
a slide through that low would wipe out ideas that
the lows are in place and could start the way for
the next move lower.
Bridge and Telerate users, please double click for
the chart<<<<<<
CRB headed for new lows?
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