Once again, while I am not sure what the bullish catalyst might be that triggers the powerful upside potential implied within the enclosed chart of the commodity sector—that shows a 16-month base-accumulation pattern—the technical set-up nonetheless, is extremely compelling, and points to considerably higher PowerShares DB Commodity Tracking ETF (NYSE:DBC) prices in the weeks and months ahead.
As we speak, DBC looks poised for upside continuation and acceleration towards targets of 17.50 and 19.00 - 20.00 thereafter.
Only a decline and close beneath 15.50 will compromise the developing medium-term set-up.
