Agriculture, Commodities Attempting A Bullish Breakout

From Chris Kimble: Its been a rough 7-years for Agriculture ETF (DBA) as it has created a series of lower highs and lower lows while declining 50% inside of falling channel (1).

The decline this year has it testing channel support of late, where a double bottom might be in play at (2).

The rally of the past couple of weeks has DBA attempting a breakout above falling resistance at (3), while momentum is very low and could be attempting to turn higher.

While DBA is attempting a breakout, yields and Commodities ETF (DBC) are testing multi-decade resistance and Commodities ETF DBC is testing 7-year falling resistance at the same time. 

Important breakout tests are in play for hard-hit Commodities ETF’s DBA and DBC!


The Invesco DB Com Indx Trckng FundETF (DBC) was unchanged in premarket trading Thursday. Year-to-date, DBC has gained 7.47%, versus a 5.51% rise in the benchmark S&P 500 index during the same period.

DBC currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #23 of 108 ETFs in the Commodity ETFs category.


This article is brought to you courtesy of Kimble Charting Solutions.