Looking at DBB’s chart “you can see that the price broke beyond the resistance of a key descending trendline in February, and the subsequent retest (shown by the blue circle) suggests that the momentum is in favor of the bulls. Many active traders will also want to pay attention to the recent pullback toward another critical level of short-term support near $12 because it is offering a risk-reward ratio that hasn’t been possible for several months. Traders will likely hold a bullish outlook on base metals until several of the key technical indicators suggest that it is time to sell,” according to Investopedia.
Aluminum and zinc each account for a third of DBB’s portfolio as well. DBB is down 19.1% over the past year, but up nearly 4% year-to-date.
PowerShares DB Base Metals
