Tuesday, July 9, 2013
DBA Agriculture Commodity ETF Weekly Chart Oversold Falling Wedge Positive Divergence
DBA is beaten down from 31 to 24, a drop of -23%, in 9 months time. DBA reflects the performance of the ag sector including soy, wheat, corn and sugar commodities, which have been beaten down especially over the last month. The oversold conditions, falling wedge and positive divergence say it is time to recover. The daily chart is positively diverged as well, sans the MACD line, so there may be some further jostling at 24-25 but a strong bounce should be at the doorstep. Lots of buying volume came in yesterday. Projection is sideways to sideways up moving forward. Keystone is holding a long position in DBA. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.