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Agriculture Commodities

PowerShares DB Agriculture (DBA) Update

I just got the updated chart for DBA.

Yesterday, the price went down back into the kumo; it did not exhibit a convincing break.

The saving grace is the volume is not very high which suggest that there is no major sell down.

Moving forward, we want to see it trading above 24.57 and definitely above the support level of 24.36 defined by the kumo.

This could be either a

  • cup and handle forming in progress
  • or a failed cup formation

 

2009mar-powershares-db-agriculture-800x6001

By iam802

Trend trading with Ichimoku