Agriculture (DBA) poised to break out?
The case for buying agriculture-related securities is pretty common sensical. But, as usual, I’m not really looking for ideas that will work someday, so much as ideas that may be ready to work now. With that said, have a look at DBA (Powershares Agriculture ETF) below. Boy, that looks an awful lot like a 3 year old cup and handle:
I don’t know if a multi-year cup and handle is “valid” among more expert technical analysts (too long of a build process?), but if such a thing exists, I imagine it looks like this. Strong downtrend resistance is in place around $34. I already own some DBA, but if it breaks above that downtrend resistance, I will be piling in (more).