$DBC - Commodity Tracking ETF - SAFE HAVEN -
Added 2024-10-29 15:44:05 +0000 UTCPaul Tudor Jones mentioned last week that he believes Commodities are undervalued right now and he is right I believe, on average they are down about -40% from their high in 2022.
We can see that there has been some consolidation under the 0.38 Fib to 0.5 Fib since early 2023 and it is moving in a Cup formation.
Price is still under the 200 Day MA so I don't believe a run has happened already.
Therefore a break and hold above the 0.38 Fib at $23 and I believe this can start moving higher to the top blue line at $30....this is a slow mover, so it will likely take 12-16 months to complete
However
There is a 4.9% dividend paid out here too.
Comments
the fund mainly hold cash…
ArtemisX
2024-10-30 01:12:28 +0000 UTCThat is very nice, thx.
Labo
2024-10-29 15:59:01 +0000 UTC
