Key points behind the bullish thesis:

• 📈 Structural supply constraints after years of underinvestment
• 🌍 Geopolitical fragmentation and reshoring keep costs elevated
• 🏭 Energy transition continues to drive demand for metals and raw materials
• 💵 Currency debasement & fiscal pressure support real assets over financial ones

Why this matters for traders:

• Commodities tend to outperform equities in late-cycle and inflationary regimes
• Pullbacks are increasingly seen as accumulation zones, not trend breaks
• Volatility remains high, but the primary trend stays upward

Big picture: If Crescat is right, we are not at the end, but closer to the middle of a multi-year commodity bull market — with real assets quietly regaining leadership while paper assets struggle.

🌎 #commodities #forecast #macro