Commodities, particularly oil, continue to be strong.
Commodities, particularly oil, continue to be strong. You can see the breakout a few weeks ago from the range DBC was in, and the successful test afterward.
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More specifically, oil is gaining strength, I suppose with an eye toward next week’s big OPEC meeting/announcements. The yellow area represents a strong base, and I’ve circled where prices are pushing above the trendlines.
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This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.
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