Commodities attracted strong buying support Friday. Crude oil futures turned the early lost into a 1.7% gain to close at $91.35 per barrel. Gold advanced 1.1% to settle at $1421.95 per ounce. The CRB Commodity Index gained 1.7% as a result.
Speaking of commodities, shares of Alcoa Inc (AA) added 1.2% to 15.39. This is bullish from a technical perspective. In fact, as the chart below indicated, AA could climb above 17 and test the 52-week high after breaking out form the so-called bullish flag pattern. Just so that you know, initially profiled in our June 24, 2009 “Swing Trader Bulletin” AA had gained about 54% and remained well position.
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