The Commodity Bull’s Big Catch-Up Trade Hasn’t Moved Yet

LATAM loading

Commodities are moving, the dollar is weakening and the macro backdrop is turning increasingly supportive for LATAM. Yet ILF has barely moved, remaining trapped inside its range despite bouncing from major trend support.

The setup is not live yet, but the traditional commodity and FX tailwinds are building. If the chart confirms, the catch-up could be violent.