Don't Ignore This Chart!

Commodity Index Fund Hits Price and Momentum Resistance


The Commodity Index Fund ($DBC) surged back above 30 in June, but is near resistance from broken support and the 62% retracement mark. Also notice that RSI is trading in its resistance zone (50-60) after becoming overbought. This is a make-or-break area for DBC. 


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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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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