Commodities have reached a cyclical low and should be headed for higher prices in the years to come, this according to Jim Wyckoff, senior market analyst for Kitco News.
"Raw commodities, in the past year or so, I believe has put in a longer-term cyclical low. That means in the coming years those raw commodity prices are going to work higher," Wyckoff said.
Wyckoff said that next year should see weakness for equities, and investors should position themselves away from stocks.
"I'm not sure if there's going to be a bear market, but I don't think there's going to be a bull market. We have, this fall, done serious near-term and longer-term technical damage to the U.S. stock indexes, that suggest to me sideways at best action in 2019, if not sideways to lower," he said.
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Apple and Tesla: Jim Cramer Tells You Everything You Need to KnowFearless Girl Statue Gets New Home at New York Stock ExchangeWells Fargo Is Now Bullish CommoditiesThis article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.