Heavily weighted in energy. I see DBC catching a bid to test the top resistance. If that breaks through, which it will eventually. Fireworks will pop off.
30 dollars
DBC is on the verge of a breakout on the monthly. First upside target 🎯 and resistance is $25.91. This price target is a confluence resistance level with upper BB. If price breaks through that resistance then next upside 🎯 is $30.
Given the mounting anger and protests by farmers across Europe, there appears to be a significant challenge stemming from contradictory and potentially detrimental agricultural policies. The grievances include increased costs for agricultural diesel, additional fees for water consumption, complex regulations, and objections to bans on pesticides and herbicides...
Price action here looking quite constructive. After breaking out the wedge formation and back above the 200dma, price has consolidated in a box after retesting and holding the 200dma. I think we see a move back to at least $26.30 on this
DB. commodity index
We expect the index to continue declining because prices are below the 27.05 resistance point, and wave (2) has already ended and started falling in waves (3). We expect prices to drop to 1.618% at 22.18, but currently, we expect the correction to continue to 61% at 26.06 to end wave 2 before descending again.
DB. commodity index
We expect the index to continue declining because prices are below the 27.05 resistance point, and wave (2) has already ended and started declining in waves (3). We expect prices to drop to 2.618% at 20.02, but for now,
DB. commodity index
We expect the index to continue declining because prices are below the 27.05 resistance point, and wave (2) has already ended and started falling in waves (3). We expect prices to drop to 1.618% at 22.18, but currently, we expect the correction to continue to 61% at 26.06 to end wave 2 before descending again.
DBC - Invesco Deutsche Bank Commodity Index has closed and broken below both the rising channel and the 200 day moving average. Technically this is quite damaging and it will be interesting to see if we get follow through to the downside.
Crude oil and gasoline are major weights in this basket accounting for half of the weighting followed by gold at just over 6%...
Hello friends.
Gasoline has come crashing down, and commodities have only fallen about half as much. Because the major price in producing most commodities aside from labor is gasoline, it makes sense that the price of commodities will follow the price of gasoline quite well. However, there is a lag effect. It seems to take quite a few months from the point when...
DB. commodity index
We expect the index to continue to decline since prices are below the 27.05 resistance point, and wave (2) has already ended and started descending in waves (3). We expect prices to drop to 1.618% levels at 22.18 prices
This chart suggest a FED pivot arriving much sooner than some may suspect. Compared to 2016 - 2019, the fast & big drop that usually follows a euphoric peak, came much quicker for this year. Given how much money printing went on during the pandemic, it's worth considering that this might be simply the first and second Elliott Waves for commodities, but there will...
DB. commodity index
And we expected that the correction would end in wave (2) and the price would be at 27.24, then it would start declining again to lower levels, it might reach 24.21, but this decline depends on price trading below the resistance point of 30.66
