Agricultural Commodities, Over Bought Becomes More So
NFTRH 278 said this about agricultural commodities funds DBA, CORN and JO:
“DBA was sold from the brokerage portfolio due to its over bought status last week, but CORN is still held because of a neat looking consolidation above the MA 50’s.”
and…
“Coffee is one reason the Ag’s got over bought, but the consolidation looks bullish.”
Being who I am, I just could not buy the JO consolidation, but it is breaking upward on cue. CORN I could keep holding and now its bottoming pattern is expressing itself as it errr… should.