We have seen significant selling the past two days since confirmation of the H&S Top. The objective of 658.07 was reached early today and continued much lower. The weekly chart shows a potential double top formation as well. If we get a close below 635.07 tomorrow it will be confirmed. This would signal even more downside action with the potential objective around 580.87. Commodities have been overbought for quite some time now and the technicals were pointing to a possible correction at these levels. If you weren’t able to get short any commodity markets you should have at least been liquidating any long positions.
