Here is a great looking breakout on the ETF DBA. Often, the 50MA and 200MA are sources for serious support and resistance. Here, DBA has blown through a significant trend line as well as the 200MA.
In addition to very bullish price movement, the volume on the last two days has been through the roof. The volume does seem a little excessive compared to the typical range but I don’t think it’s much to worry about.
Personally, I would wait to see another follow-through day on solid volume to know if this isn’t just volatility.
Tagged: DBA, moving average, price, range, trend, volatility, volume
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