SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bearishly opened below the pivot of $40.55 today and have reached the first level of support of $40.24.
Should the shares continue to fall, we are monitoring the next support pivots of $40.06 and $39.57. Also, the shares are currently trading below the 50-day moving average of $41.36 and should find support at the 200-day moving average of $39.22.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of PowerShares DB Precious Metals Fund on July 06, 2010 at $40.54. Since the call, the stock has fallen 0.8%.