DBC - More Odd Charts - Commodity Drop Underway?

Crude oil has been getting absolutely walloped for weeks now, having lost over a third of its value recently. Looking at the chart of USOIL I recently posted, it seems to me we are definitely primed for a bounce. The bounce will ultimately fail, but we’re really, really oversold at this point.

One thing I noticed is that the commodity ETF , symbol DBC , has actually cracked the channel which has been in place for years. Like I said above, I think oil will bounce, but I wouldn’t be surprised to see DBC hit resistance in the form of that now-broken channel.

DBC is the basket of commodities
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