By: Tim Knight at Slopeofhope.com
The commodity ETF symbol DBC had been trapped beneath resistance for over two years, but it broke out recently. The weakness we saw in crude oil earlier this week dragged it down some, but it’s push up off support at this point (see arrow). If this level holds (16.05) we could be entering a new upswing in commodities.
As for my own trading day – – MEH – – down half a percent at the moment, but holding tough.