It's not just oil that's poised to go lower

CN
1 hour ago

It's not just oil that's poised to go lower...

It's probably the entire commodity complex.

Looking at the long-term chart of $DBC, I see the following:

• Failed breakout to new ATHs

• An official lower high has formed

• A clean rebound on the 200-day MA cloud

Look, maybe it's a massive cup & handle setup.

But I have a gut feeling that $DBC is going to break below its 200-day MA cloud and continue to stay trendless (or in a downtrend, like mid-2022 through mid-2025).

If commodities cool, that will help to alleviate most inflationary pressures (particularly as base effects from tariffs roll off).


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