The PowerShares DB Commodity Index ETF (DBC) has gapped up this morning, mostly because the energy complex is up significantly, but so are the grains, too, which has propelled the index above key near-term resistance at 19.50 – on the way to test a “flattening” 50-day MA (now at 19.85). Let’s keep in mind that 55% of the DBC is comprised of crude and heating oil, which enables us to participate in the energy complex. Key near-term resistance resides at 19.85-20.00, which if hurdled and sustained should trigger additional strength the projects to 21.25/50 thereafter.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.