We might well have seen an important top in the CRB index. We had a very clear five wave decline in 2008 from 473.97 to 200.16 followed by a zig-zag correction, which has almost perfectly hit the 61.8% retracement mark for wave A.If the top is in place we need to see a decline through 335.10 soon, which will confirm a decline to at least the 321 area.
Risk is, that support at 335.10 protects the downside, which means we need just one more new high closer to or just above the 369 before the top is finanlly in place.
If we have seen an important top in the CRB Index, then we problably have seen or are very close to see important tops in the commodity currencies as well.
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