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

CN
21 hours 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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