Good correction in terms of ICE being the benchmark. Odd how that can be published with such a glaring mistake. Anyway, still a good article.
As we approach the new year the always well discussed re-balance will come into focus as well.
Currently, prices gaining nearly another 2%. It's been a very impressive rise since the Oct. 17 low. In fact, the lows made on Nov. 19 seem like a distant memory. Recall, I for one, thought the break down a couple of weeks back could set the stage for a re-test of the $1 level and below. The sweet spot seemed to be 95cents in terms of the spot month and risk/reward on the long side. Still, longs have been rewarded nicely since the move higher began. In just about a month and 1/2, we have gone from 52 week lows to 52 week highs.
KC is giving a taste of it's potential as it percolates higher. It's always been a more pleasant experience (speaking from my personal perspective) to be participating in KC during a rising market!
To all the longs, kudos. To all participants, do not lose sight of the fundamental(background) and technical factors that remain in force!