The Goldman Sachs Commodity Index (GSCI) is a basket of major commodity futures markets rolled into a composite index. It’s a good gauge of the overall health of the raw commodity sector. See on the weekly GSCI chart that prices have moved well off the multi-year low scored in April. In fact, a bullish “island bottom” reversal pattern has formed on the weekly chart to suggest the GSCI has put in a major bottom. The strong recovery in the oil market has helped the GSCI and is also a good sign for the raw commodity sector that has been so hard-hit by the Covid-19 pandemic. Better times lie ahead for commodity markets.–Stay tuned! Jim