Don't Ignore This Chart

DBC Commodity Index Fund Tests Triangle Support as RSI Range Narrows

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The Commodity Index Fund ($DBC) declined from mid September to early November and then formed a triangle consolidation. After a fall last week, the ETF is testing triangle support and a break below 27.3 would be bearish. Notice that RSI is also consolidating with support at 40 and resistance at 60.

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Arthur Hill
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com. He has written articles for numerous financial publications including Barrons and Stocks & Commodities magazine. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed technician. In addition to his CMT designation, Arthur holds an MBA from the Cass Business School at City University in London. Learn More
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