JPMorgan was out with a report today saying there is a one-in-three chance of a flash crash in commodities. That’s a bit of a worry, although outside of oil, commodities are doing fairly well today — partly due to US dollar weakness.
A fall below $104.76 is a negative development and I wouldn’t rule out a fall below $100.
WTI crude is also flirting with a semi-important zone of support around $92.00.
Update: $104.76 has broken, albeit marginally so far. Watch the close.
