The PowerShares Commodities ETF (DBC) is extending higher.
A significant rally is now highlighted in the coming weeks, as the 2016 bull trend gains traction.
Focus is turning to the 17.50, (38.2%) Fibonacci retracement of the 2014-2016 fall.
Any immediate pullbacks to remain limited, as investor sentiment continues to improve.
An unexpected close below 15.50 would delay gains and prompt a Downgrade to Neutral.
To access the full report, covering the broad Commodities ETF (DBC), Gold, Silver, Platinum, Crude Oil and Natural Gas futures, High Grade Copper futures, Corn, Soybean and Wheat futures, please visit our website.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.