Is The Commodities Bull Market Nearing Another Breakout Buy Signal? By: Chris Kimble | May 12, 2022
Commodities have been one of the few winners in 2022. But with elevated commodity prices, consumers are now left with an ugly dose of inflation on everyday costs (food, energy)…
And with falling stock prices, they are getting a dose of deflation in their investment portfolios. Not a good combination.
Today, we take a closer look at the bull market in commodities and why we may be at a key trading juncture, from Marketsmith.com.
Below, you can see a chart of the popular commodity ETF $DBC. And highlighted in green is a trading pattern that looks to be a bullish ascending triangle. A breakout at (1) would suggest that commodities (and inflation) will remain red-hot.
Seems like right now would be a good time to put this on your watch list… whether it’s for your portfolio or pocketbook!
As mentioned in the chart, if support breaks, investors will want to take profits in commodities.
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor! • DiscoverGold
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.