Key Resistance Area in CRB Index
19 January 2012
WEEKLY CHART
See how good support has come from the area of the 293.75 Jan-10 high and 294.40 61.8% level.
This now offers an interesting base for a recovery but there are levels on the Daily chart that need breaching.
DAILY CHART
The Index again rebounded from near a Fibo projection, in Dec. So far the recovery has been modest, resisted by the falling resistance line.
Beyond here is the earlier 38.2% resistance area. Breaking both of these would strongly suggest that a recovery phase was underway, calling for higher targets.
Next story:
EUR/USD Bouncing Off 76.4% Support 
Previous story:
Cotton Nears Long Term 76.4% Support