It did not materially participate in the relief rally but has been making a potential bottom/bounce pattern as we’ve been noting. The Agricultural sector is one of those that marches to its own beat with seasonal, weather and I suppose even demographic influences.
As such, I am giving my DBA position a little leeway as I manage risk and try to navigate a potential change in the macro. If DBA can get through the last bit of resistance here and hold it the target would be the down sloping SMA 200, as several other commodity markets have done. A failure and I’d probably dump DBA as part of the cash raising regimen.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
