DBA - the rally has started

DBA is the Invesco DB Agriculture Fund that seeks to track the DBIQ Diversified Agriculture Index. The Fund is designed for investors who want a cost-effective and convenient way to invest in commodity futures. The Index is a rules-based index composed of futures contracts on some of the most liquid and widely traded agricultural commodities including: live cattle, soybeans, sugar, corn, wheat , cocoa, coffee etc.

In my previous post on 12 March 2019 I argued that 10 year long decline for DBA fund was over. Since then we have got a nice looking impulsive rally in wave ( a ) of ( i ). It may take out the critical resistance at 16.85 and then give us a pullback making a higher low and setting up a rally in wave ( c ) of ( i ) up.

DBA - 15 min chart updated on 3/21/2019

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