Monday, November 10, 2014

Agricultural Commodities (DBA) : Final leg down

As we predicted in mid summer 2014(01-07-2014) (http://goldenopportunitytrading.blogspot.co.uk/search/label/DBA) Agricultural commodities ETF followed a downtrend and broke down below 26$
Our bearish prediction

Currently DBA is in a neutral condition between 25-26,5.However we still favor our bearish scenario. There is a good possibility for DBA to move initially towards 24$ and then 22-22,5 (where there is a strong support zone) and bottom out at these levels at approximately spring-summer 2015.There is still a bullish scenario in the cards if DBA manages to move above 26,5$, although we think it is unlikely to materialize.