12631 member “ironbird” astutely pointed out the DBC ETF in our chat room earlier today.
I wil flesh out my analysis of the weekly chart, below, after the bell on my video recap.
But you can see price leaning down against major, multi-year support.
For reference, here are the main components of the ETF (source). Note Brent at fourteen month lows.
Think it breaks down to the crash lows? Or bear traps here?
Top Ten Holdings
Brent Crude Futr May12: 13.83%
Gasoline Rbob Fut Dec12: 13.71%
Wti Crude Future Jul12: 13.56%
Heating Oil Futr Jun12: 13.20%
Gold 100 Oz Futr Dec 12: 7.49%
Sugar #11(World) Jul12: 5.50%
Corn Future Dec12: 5.01%
Lme Copper Future Mar13: 4.55%
Soybean Future Nov12: 4.38%
Lme Zinc Future Jul12: 4.16%
__________________________________________________________
Comments »