DBA is exibiting strength over a multi-month consolidation. Note symmetrical triangle breakout:
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You might be right about up move but I would not be convinced until it is able to exceed those ugly sticks from March.
Having tought time getting thru mid 25’s based on Feb and March’s action (lower highs)
Hey man,
What does todays tape is telling you?
Looks awfully bearish to me after giving up 120 points gain, and not being able to finish above 875…but then again this market is robbing alot of people lately.
875 is the battleground
lack of volume on that breakout
I am also watch those sticks from Feb. If it can pass those, it may have a run.
Never even heard of this thing. Thanks for the post CA!
my two issues with this chart are 1) it’s awfully close to the apex of the triangle, which can lead to exhaustion of both supply and demand. 2) Its a continuation pattern that happened after a huge move down.
What I like, though is that it bounced out of that triangle right off its 50 DMA.
Hello CA,
Just a quick question, does that look like a double bottom
with a morning star doji on SRS daily?
I’ll leave that one to the pros. That’s twice at 875.
Jim Rogers likes commodities, been preaching them for weeks, if that means anything?
I was gone all day, fully expected to get home tonight and find S&P blasted through 875. 🙁
It’s a clean breakout on DBA. Possibly look at individual ag names.
JF – could be a double bottom. The ‘doji’ actually looks more like a hammer.