Agriculture ETF Tests Short-Term Breakout
Chris Kimble | Apr 10, 2019 11:56AM ET
The last few years have been hard on Agriculture ETF (NYSE:DBA), which has lost nearly 50% of its value.
Is the AG ETF showing signs of green shoots (growth)? It's Possible.
The trend for DBA remains down as it continues to create lower lows inside of this falling channel. It hit the bottom of this channel a a few weeks ago at (1) and a small rally has taken place. Does it mean the downtrend is over? NO.
The small rally has DBA testing the 2018 lows as new resistance at (2), which presents itself as a breakout test.
If DBA breaks above this resistance, it would send a short-term positive message to this hard-hit ETF.
If it does break out at (2), look for some green shoots of growth to follow.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.