Get started
abrdn Bloomberg All Commodity Strategy K-1 Free ETFabrdn Bloomberg All Commodity Strategy K-1 Free ETFabrdn Bloomberg All Commodity Strategy K-1 Free ETF

abrdn Bloomberg All Commodity Strategy K-1 Free ETF

No trades
See on Supercharts
Overview Analysis
Ideas
Discussions Technicals Seasonals

BCI trade ideas

BCI potential pattern developmentI bought into BCI this year as an inflation hedge and a play on the potential start of a long-term commodities upswing. However, I am generally skeptical of the asset class overall simply because commodities tend to have prolonged down cycles where they drag down the rest of the portfolio and since I think the global trend toward automation is ultimately deflationary. Since I currently have a stake in commodities, I would like to practice understanding chart patterns with the hope of eventually being able to detect when a prolonged downturn might occur. It looks to me like either a megaphone or ascending triangle may be developing in BCI. A megaphone tends to be a continuation pattern (so bullish, in this case) while an ascending triangle tends to be neutral. The MACD has crossed above its signal line, which can be a bullish indicator, but the slope is pretty flat right now. RSI is currently range-bound, without oversold or overbought signals. Overall, I'm neutral until more information comes in.
AMEX:BCI
by joppoe65630
2