Wheat 2 years after topping out at the PCZ of a Bearish Shark that initiated a downtrend in 2022, has now come back to the top side of the range wheat traded in between the years of 2016 and 2020 before ultimately confirming the bottom at the PCZ of a Bullish Deep Gartley in 2019 and breaking free to the upside of the trading range in late 2020. Now that wheat...
DBA noted to be on the verge of a break out. Very quickly, here is why: 1. Weekly Candlestick pattern appears more bullish . Subtle buy signal there. 2. MACD rising and just about crossing up and the VolDiv already crossed over. 3. TD Seq is actually still in Bullish trend 4. Daily Candlesticks show a potential rebound, but it needs to break above the TDST...
Noted in my screener that the Invesco DB Agriculture Fund DBA was outstanding for the week. A 2.3% climb for the week came after a quick 15% decline early in the year, and entrapment in a consolidation range (yellow box) between 19.50 and 20.80. The lower end of the range represents a strong support having been tested thrice this year. Meanwhile, the weekly MACD...
Deutsche Bank Agri ETF has broken down from this rising wedge and now firmly stuck between the anchored vwaps from the recent swing highs and lows which are acting as both resistance and support. This wedge pattern is generally a continuation pattern in the direction of the preceding trend so i would expect this to work its way down to the anchored vwap support...
all in the video, I especially like the Wheat chart and MJ's for long positions.
$DBA - We are at key area (PAY ATTENTION) What is this index? Agricultural commodities ETF - Includes: Wheat, Corn, Soybeans, Coffee and much more. Is food inflation over or this a minor dip? Keep an eye!
Lean Hogs Technicals (August): It was a risk-off day in nearly every commodity yesterday, with the exception of lean hogs. Lean hog futures were able to rally up near the 50-day moving average which we’ve listed as first resistance. That finished yesterday’s session at 106.90. Just above that is trendline resistance from the March 31st high, that comes in near...
What a great run was this of course, up more than 200%. Starting to approach possible demand zones, while the correlation to dollar index remains strong on a yearly basis. If this doesn't prove the emergency of global needs towards commodities and shortages, I don't know what else can prove it. More often than not, commodities trade inversely to dollar index....
Decided to start looking at the Agriculture ETF, DBA. Had been viewing it for years now since 2009, but it was in a long downtrend that never seemed to end, until it did in mid 2020. With a fierce initial upside, and a stall in the previous months, it appears that there might be some retracement to about 18-20 levels, before a real launch. Much is said about...
Back in Dec 2019, I had posted a warning about food inflation just prior to Covid. Nov 2021 I once again warned about food inflation as it broke a major 11-year channel While overall agriculture prices are not as high as they were back in 2011, (at least not yet) the rate of change is just as important. While most of us may sport bitch a bit about food prices...
DBA Agriculture fund weekly chart possible bullish textbook BRB - Breakout Retest Bounce - implying a move higher in the next few weeks. Large open interest in JAN calls, I added to my 19c position today after seeing buyers present Monday and also a nice wick last week despite a lot of equities down big. JAN19c - 17K OI JAN20c - 12K OI
"It's Okay to be Wrong, not Okay to Stay Wrong!" "Better to be out of the market wishing you were in, rather than being in the market wishing you were out!" Be real careful here as the market internals are weakening quickly. As I mentioned in the last video comments "Be careful! This is not the same market it was a year ago. Buying the dip may not be a good idea."
$DBA Agriculture fund looks bullish on weekly (macd cross) and monthly time frame. Looking at the monthly chart we can see a break above $20.75 zone implies a move through the VP gap to $23.8 zone resistance. MACD showing good momo and EMA's bullish cross implies continuation to the upside. Open Interest is very heavy on the call side, and on 11/17 a whale...
I first warned about food inflation just prior to the Pandemic in Dec 2019. This time it is far more significant break out since aggs are breaking a 13 year trendline. While we think of our supermarket and take out food costs, the reality is that social unrest in various parts of the world tends to break out. Arab spring occurred last time. As a rule of...
Brief for Agriculture: - Price inflation of commodities and tailwinds of seasonality will provide a bountiful harvest this year's end for agricultural commodities. Focus points: Coffee: Oats: Soybean: Soymeal: Cotton: Most interested in Coffee and Oats, as they are showing strong trends entering into the bullish season, but eagerly awaiting Soybean...
Idea for DBA: - Agriculture on an uptrend but testing a down TAIL resistance. - Rejected at resistance, re-testing. - Watching for the short if rejected again, or fakes breakout to the sliding parallel and fails to breakout. GLHF - DPT
This break out of the descending channel looks legit and probably see's higher prices. Looks like a basic basket of agricultural goods is going to become even more expensive. Pattern target -> $20.50 Fund Holdings subject to change FUTURES % OF NET ASSETS Corn 14.29 Soybeans 13.73 Coffee 13.60 Sugar 13.25 Wheat 11.31 Live Cattle 9.78 Lean...
If it breaks out, it could easily 2x from here?