With oil pushing higher (finally), (ARCA:DBC) seems to be getting some strength and, as cheap as it looks, appears to be a good buy.
But I’m not convinced. Just take a look at each of those little red lines. In each case, one could have argued that commodities were forming a base and were ready to reverse. Yet each time, the tumble simply resumed. The modest pause we’ve seen in plunging prices isn’t a justification to fight the overall trend.
