Today’s Chart of the Day was shared by Greg Krupinski (@G_krupins). It's a daily candlestick chart of the Agricultural Commodities ETF, $DBA, over the past six months. This ETF provides exposure to Agricultural Commodities including Corn, Soybeans, Sugar, Coffee, Live Cattle, Lean Hogs, Cocoa, Wheat, and more. Over the past year, Agricultural Commodities have been in the process of reversing higher out of a multi-year downtrend. $DBA began its reversal higher last June, however, the rally ran out of steam this May, and it has been consolidating ever since. Price has tested and failed at resistance around $19.25 three times this Summer. Will the fourth time be the charm?
Chart of the Day - Thursday, August 12th, 2021
August 12, 2021
