Don't Ignore This Chart!

DJ Wheat Index Breaks Consolidation Resistance $DJAWH

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Grains are on the run with a breakout in the DJ-UBS Wheat Index ($DJAWH). The chart below shows the index surging in early December, consolidating for seven weeks and then breaking consolidation resistance the last few days. RSI broke its downtrend in early December and held the 40-50 support zone this month. Also check out Soybeans ($DJASY) and Corn ($DJACN).

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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 market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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