Commodities Uptrend Finally Broken
Tim Knight | Jul 22, 2016 02:35PM ET
Well, that took long enough. In place since January 20, the ascending trendline for commodities (as measured by the ETF DBC) is broken to the downside.
Aside from oil’s weakness, agricultural commodities have been doing just as poorly -- somewhat to my surprise since it looked like DBA was actually shaping up. One part of the weakness in the world of food is corn, whose bear market persists, in spite of the Commodity King’s pronouncements otherwise more than two years ago.
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