With a decline the last five months, the Agriculture ETF (DBA) formed a falling wedge that extends back to March. The May-July highs mark key resistance just above 33.25. After a surge in late June and early July, a smaller falling wedge took shape the last three weeks. Look for a breakout here to trigger the early bullish signal.
Click this image for a live chart
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
Learn More
