DBA Agriculture ETF, weekly
DBA Agriculture ETF
On 3/3/14 it broke out from the 25/2/2008 downtrend line
channel (blue). On the recent correction, it rejected nicely
the 20 sma, above the line(circle).
The recent rise, may be attributed to a somewhat rising
inflation expectations since Jan14', and a general
bear market commodities rally ( also late cyclical sector ),
which could be extended into late summer/2nd half.( AUD,EEM )
It tagged the projection line ( black ) channel,
momentum has based-corrected, and has potential for
another rally, while has still room for further consolidation
on current levels, in the short term, as well.
Targets : 29.39, 30.87, 34.21 (11' high)
Support 27.42, 27.00
Stop 26.60
On 3/3/14 it broke out from the 25/2/2008 downtrend line
channel (blue). On the recent correction, it rejected nicely
the 20 sma, above the line(circle).
The recent rise, may be attributed to a somewhat rising
inflation expectations since Jan14', and a general
bear market commodities rally ( also late cyclical sector ),
which could be extended into late summer/2nd half.( AUD,EEM )
It tagged the projection line ( black ) channel,
momentum has based-corrected, and has potential for
another rally, while has still room for further consolidation
on current levels, in the short term, as well.
Targets : 29.39, 30.87, 34.21 (11' high)
Support 27.42, 27.00
Stop 26.60
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