Raoul Pal @RaoulGMI Founder/CEO - Global Macro Investor and Real Vision Group, Business Cycle Economist, Investment Strategist, Economic Historian, Traveller and Rum Drinker.. Feb. 26, 2020 1 min read

Not sure if you are watching commodities, but the CRB Index is right on key support (yes, its oil heavy). 1/

And if that goes, then the really big level goes too soon after...

And that would likely usher in the big break of the Raw Industrial Commodities Index (much broader, lots of non-futures commodities and no oil).

As ever, one step at a time. Feels like these, plus all the other key long-term trend lines in FX, credit, yields, equities, etc will all go in April or May, but let's see...

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