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Price is currently supported by a 38.2% retracement and a 135 degree inflection level located at $493-$494. Wave count indicates the possibility of making an additional high up to 539.65. This remains the target unless there is a significant break below the current support level. If a break of $493 occurs then the secondary support target is 470. The GSCI is heavily weighted towards energy with 37.67% coming from Crude Oil and 13.66% coming from Brent Crude Oil. The second highest component is agriculture coming in at 14.44% including Wheat (3.29%), Corn (3.29%), Soybeans (2.47%), Sugar (2.41%).
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