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).

  1. No comments yet.
  1. August 30, 2011 at 1:30 am

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: