DBC, Commodity ETF, is now in defined range with bearish bias prevailing. I like most commodity ETF stocks for possible short trade. Only one – agricultural commodity ETF – is bullish for me. Technical analysis now agree with my Global Macro opinion about commodities.
I did my analysis for technical trading strategies for my fund and noticed that commodity ETF stocks turned bearish. They have broken support levels and are now poised for further declines. Here are some chart examples :
The only commodity ETF I watch for long now in my ETF Trading strategies is DBA – agriculture ETF stock
RBCN made nice breakout. I am now waiting for pullback to the 30 +/- level to enter new long trade there.
I mentioned SRCL few days ago. It managed nice breakout above 60 level. If you missed entry or prefer to wait if breakout will hold, then wait for possible pullback back to 60 level.
I am not too bullish on markets right now. But some stock are worth of watching. SRCL is strong stock now. Watch possible pullback or breakout above 60 USD resistance area.
I have noticed that WCN stock chart is very bullish. I put this stock pick into watch list for possible long trade in my technical strategies.
I bought CPN based on setup in my trading newsletter during fear and panic last week. And CPN is really strong. It moved up. I think that CPN has more upside potential.
I like strong action of CPN and have prepared trade setup to buy this stock. Details are available for subscribers of my ETF & stock newsletter.
Here is chart describing this idea.
I am monitoring MMM stock for stock trade in my technical strategies. I like last breakout and will look for entry near support level 84 – 85. Now I wait.
I have noticed that ADBE does not want to go higher. It is headed down. Good stock pick for shorting rallies.
