Commodity ETFs Overbought; Gold Least So 16 comments
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Below we highlight our list of commodity ETFs. As shown, all of the
ETFs are currently well above their 50-day moving averages and up over
the last five days. The ETFs become overbought when they move more
than one standard deviation above their 50-day moving averages.
DBA, an agriculture ETF, is currently the most overbought at 10.09% above the top of its historical trading range. DBA is followed by the silver ETFs (SLV and DBS) and natural gas (UNG). While these ETFs are in strong uptrends, their current price levels suggest that a short-term pullback is probably in the cards.
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This article has 16 comments:
they need to also say that these "overbought/oversold" discrepancies can be cleared up in days.
I think they try to knock it down a little, so they can get a better entry point.
I actually sold over half of my DBA shares yesterday to spread around in the ag market, but it has made me some money.
If I get a 'ding' speeding ticket once every 3 years, say even $200 fine, it ends up costing me only 20 cents per day.
Until I'm approaching 65 years old, then I'll slow down a bit. Like investing, go moderate risk in the early years, and as you near retirement/ssn then move slower and put more money into P&G and Pepsi.
I have been trading for over 15 years and the only thing you need to know
is where the interest is going.
I have been hearing and reading since oil was at 60 and gold was at 800 that they are way overbought.
As both went to all time highs.
Both will correct on a short term basis but they will both go higher every year forever.