W: 2017 trend line broken w/ RSI over 50, MAs crossing for up, uptrend confirmed D: Head and Shoulders in progress
Heikin-Ashi buy signal from support. Initial stop at 14,50.
I will check this chart monthly in 2016, but it's possible we do see some sort of mean reversion towards $16-$18.
since the euphoria moment in July 2008, Commodities is in a very bad shape perhaps due to obesity LOL it stages a laboriously come back and as best only manage a Gann 50% retracement, upon rejection, it continue to hug along the upper red channel until it couldnt hold on anymore in June 2014 the next level ~18 is the same level where this commodity make a loud...
This is the PowerShares DB Commodity Index. With more than 40% of the index weighted in different forms of oil (Light, Brent, Heating, and RBOB), it resembles the charts of crude and Brent we follow but with a more bearish elliott wave count. Circle wave iv may be underway (crude is up 2.5% right now) and I have thrown up a cluster of Fibs in order to identify a...
It used to be that commodities were one of the preferred 'risk asset' plays - particularly when volatility was prized pre-Great Financial Crisis. Now, as the S&P 500 moves on record highs, commodity aggregate indexes are hitting multi-year lows. The Powershares/DB ETF here hit a series low (back to 2006).
As more liquidity continues to come online over the summer from countries around the world, commodities will once again ignite investor interest as they seek to avoid the inflationary pressures which should materialize first in this sector. To understand how to trade this chart: www.chann3ls.com Free Month Trial available from www.chann3ls.com
While the RUSSELL 2000 SmallCaps has broken down its long term 364 continuous bullish days below its 200 dMA, the commodity ratio between this mayor ETF's still is playing choppy on the lower envelope of the 52 week MA! -- WATCHING CAREFULLY !!!
A weaker dollar is leading to a breakout of the DBC.
DBC, the commodity index ETF, is sending mix signals. The correlation between DBC and the S&P is pretty good, but while the S&P is trading about 3 % above it's 2011 high, DBC is still about 17 % below is 2011 high. It also broke it's"short" term up-trend line. Not sure what to make of this is it sending valid signals about the state of the economy or the...
Channel breakout could result in DBC moving higher, but be careful because the breakout occured on low volume. However my bias is to the upside.