Don't Ignore This Chart!

Commodity Index Fund Breaks Pennant Resistance


With the risk-on trade taking shape the last two weeks, the Commodity Index Fund ($DBC) broke above pennant resistance to continue its July advance. The upper trend line extends down to mark first support at 27.50. A move back below this level would question the breakout and call for a reassessment.

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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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