Agriculture ready to move higher?
I recently noted when DBA broke above its short term resistance, and it’s now testing its longer term resistance trendline. Famed investor Jim Rodgers has made his bullishness on agriculture quite clear, and who can blame him with this chart. It seems a cup and handle that has been building for 4 years in DBA (Powershares Agriculture) is flirting with a break to the upside.
A break to the upside of the falling trendline would be bode well for the future of DBA, and would set the stage for a test of the old high.