Jun 04

Upmove in Commodity ETF

With gold, oil and grains all acting extremely slow we should not be surprised to see the PowerShares Deutsche Bank Commodity ETF (AMEX: DBC) powering higher today. In fact, the DBC touched 26 this morning, its highest point since last August, which also happens to represent a multi-month resistance plateau that once hurdled should trigger acceleration towards 27.00/50. This upmove in the DBC might just be starting, and could reflect a new "phase" in demand-pull (China-demand) inflation.
Chart

Mike Paulenoff is author of www.MPTrader.com, a real-time diary of his technical analysis & trade alerts on ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international markets, plus key ETF component stocks in sectors like technology, mining, and banking. Sign up for a Free 15-day Trial!