Thursday, August 23, 2012

DBC Commodity ETF Caught Between the Scylla of Support and the Charybdis of Resistance

If you've forgotten your Greek mythology Scylla and Charybdis were the twin threats to sailors between Sicily and Italy. Avoiding Charybdis meant passing too close to Scylla and vice versa.  Odysseus stuck to the Scylla side.
The ETF is up a half-percent at $28.93.
From Slope of Hope:

DBC in Between a Rock and a Hard Place
The Commodities ETF (DBC) began and ended today (Tuesday) at the apex of and in between trendline resistance and support, as shown on the Daily chart important one to watch tomorrow and thereafter!...