Wednesday, December 23, 2009

Wednesday Commodities Round-Up

For the DBBs, note the overall trend is up. There has been consolidation along the way in the form of consolidation rectangles and flags, but overall we're still moving higher. Also note the overall EMA picture -- the shorter EMAs are above the longer EMAs, all the EMAs are moving higher and prices are using the EMAs are technical support.

A.) Momentum is about even -- there is no move either way.

B.) The A/D line tells us that volume is still flowing into these shares.

On the P&F chart, note that prices have continued to move through upside resistance for the entire year.