Inflation and the $CRB

I have mentioned that I follow the $CRB as a gauge of inflation and as it relates to the price of commodities and gold here . The $CRB hit an all time high at the beginning of March this year as seen in the big red candle on the right side of the chart below, which is a 5 year monthly chart. As can be seen prices have been rising steadily, and even parabolically since last summer. The last 4 months on this chart forms what looks like what is called a bullish pennant and if this breaks out to the upside it could be bad for the economy. Click on chart to enlarge.
A 3 month daily chart with the pennant outline drawn in below shows that prices are up against a downtrend line. Lets hope that prices do not break this line to the upside as it will indicate higher prices ahead.