On the weekly CRB chart, notice the following:
-- Prices are below the all the SMAs
-- The 10 and 20 day SMA are both moving lower
-- The 10 day SMA has crossed below the 20 and 50 SMA
-- Prices have broken the uptrend started at the end of the summer last year and have fallen about 50% (that's an eyeballing computation).
Bottom line: the weekly chart is bearish.
On the daily chart, notice the following:
-- All the SMAs are moving lower
-- The shorter SMAs are below the longer SMAs
-- The 20 day SMA has acted as an important are of activity. While prices have moved above it, they have quickly retreated as well.
-- Prices have been dropping for three months.
Bottom line: this is a bearish chart as well
