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Invesco DB Base Metals Fund

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DBB trade ideas

Commodities giving a heads up??I do track the DBB and DBC on the side, and particularly over the weekly charts. Something I want to highlight is that the charts are beginning to signal something ominous, as the equiy markets are defying gravity. The DBB (Base Metals ETF) and DBC (Commodity Index Tracking ETF) both need to be bullish as a proxy lead indicator for equities. This is observed in June 2020, after the pandemic onset shock, when both had a system buy signal that set a long term trend. Given that, it is currently noted that the DBB ETF clocked a lower high, and a system sell signal triggered. The DBC has a double top and a long bearish candle that looks good to break a trend. So when base metals and overall commodities do not do well, the general market sentiment is either not healthy or not sustainable. The next few weeks would be critical... Heads up!
AMEX:DBBShort
by Auguraltrader
Base Metals: Long term sell opportunity.The Base Metals market is reproducing a pattern that led to its 11.00 Multi Year Monthly Support in 2016. The formation starts with an aggressive channeled rise from the Support, continues with a Head and Shoulders and ends with a structured decline towards the 11.00 Support again. We appear to be forming the right shoulder of the new H&S pattern so what should follow is a structed decline to 11.00. We are on a long term short on this market. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
AMEX:DBBShort
by InvestingScope