The Bloomberg Commodity Price Index ETF (ICOM.UK) is up today and trying to make up for last week's losses, even despite today's strong pullback in the oil market. Of course, it is worth remembering that oil has the largest weighting in the index, although on the other hand gas has also weighed heavily and is doing well for the month as a whole.
Still, industrial metals are the worst performers since the beginning of August, which has to do with China and the strong US dollar. NATGAS and oil, on the other hand, are the strongest. Today, despite negative news out of China on debt settlement problems by a leading developer, metals are gaining slightly.
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Commodities ranked from worst to best since the beginning of this month. Source: XTB, xStation5
Last week saw a doji candle, which speaks of market indecision. This week is starting positively for commodities, even despite the declines in the oil market. Source: xStation5
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