Crude is rising, with Nymex Light Crude respecting its new support level at its former two-year high of $54/barrel, indicating a primary advance.
The general rule is that rising crude prices lift all commodities. Crude prices are a major factor in commodity prices due to the high energy costs of extraction (hard commodities), cultivation (soft commodities) and transport (both hard and soft).
The broad DJ-UBS Commodity Index is retracing but likely to respect the rising trendline, with a rally testing resistance at 90.
Copper also shows some weakness at present but respect of primary support at 6400 would confirm the up-trend.
Iron ore is headed in the opposite direction, however, as the Chinese real estate market slows. But expect strong support between $48 and $54/tonne, especially if the rise in crude prices continues.
Even gold prices tend to rise and fall in unison with crude over the long-term.