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Commodity ETFs Are Catching Fire

By Deron Wagner

 About this article:
 In my Oct. 9 commentary, I addressed the breakout of PowerShares Base Metals above a level of horizontal price resistance that was propelling it to a new 52-week high. Here's an excerpt: However, over the next few days, DBB could gently pull back to form a "bull flag" pattern at the test of the high of its range. If it does, one could buy the first gap above the upper channel of the bull flag pattern. Entering in this manner is probably safer than entering on the initial breakout here. Thereafter, DBB indeed pulled back for a few days, then gapped to a new high. The daily chart of DBB is shown below: DBB Daily (NYSE) PowerShares DB Base Metals Source: TradeStation The breakout level in DBB, around 19.20, should now act as the...

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