ETFs In A Bullish Trend [Global X Funds, Deutsche Bank AG PowerShares DB Gold Double Long ETN]

sellbuyMorpheus Trading: On the ETF side, we added one new position to our Wagner Daily holdings yesterday in $RJI (Rogers International Commodity Index). About 30% of its weighting is in oil, but that is fine with us because $USO looks like it could go on a decent run.

$RJI broke out above a three-year long downtrend line a few months ago, and has since been consolidating around $8.50 in a tight range. Although it may be tough to see, the 10-month moving average (orange line on chart below), which is a bullish sign:

$RJI downtrend line breakout

Since stalling out at the beginning of March, $RJI has formed a tight range while holding above the 50-day MA and 20-day EMA (for the most part).

Note that the 50-day MA recently crossed above the 200-day MA (see chart below), which is a bullish, intermediate-term trend reversal signal.

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