Below looks at Commodities ETF DBC over the past decade. Since the highs in 2008, DBC has been a great asset to avoid. Is it time to start paying attention and potentially own this hard hit ETF? Check out the rare price situation below in DBC.
(Click on image to enlarge)
The CRB (Commodities Index) has been down 5-years in a row, this has never happened in the history of commodities, not even in the 1930’s (they fall 5-years in a row). Rare exodus from this sector, to say the least.
DBC hit falling channel support earlier this year and has rallied since doing so. Over the past year, it appears that DBC is forming a pennant pattern, that is about to end.
Joe Friday Just The Facts, DBC is testing a triple breakout test at (1) above. If DBC can breakout above moving averages and falling resistance at (1), it should attract some buyers, from this out of favor, hard hit sector.
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