Commodities, Interest Rates Trying To Break Out Simultaneously

From Chris Kimble: When it comes to assets being in long-term bull markets, Commodities and interest rates do not come to mind, as each has endured long-term bear markets.

Could these long-term trends be coming to an end? Possibly.

The 2-pack above looks at Commodities ETF (DBC) and the Yield on the 10-Year note on a monthly basis over the past decade.

Each is attempting to break out above resistance levels at the same time at each (1). We haven’t seen this type of an attempt in years and years friends!

If these long-term trends are changing directions, numerous out of favor commodity assets would do well going forward.

The Invesco DB Com Indx Trckng FundETF (DBC) closed at $18.30 on Friday, down $-0.04 (-0.22%). Year-to-date, DBC has gained 10.17%, versus a 8.29% 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 109 ETFs in the Commodity ETFs category.


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