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PowerShares DB Precious Metals Fund (DBP) Breaks Through Resistance at $42.58

Written on Wed, 05/12/2010 - 11:27am
By Chip Brian

SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bullishly opened above the pivot of $42.18 today and have reached the first resistance level of $42.58.
We are watching for a cross of the next upside pivot targets of $42.78 and $43.38. Also, the shares are currently trading above the 50-day moving average of $39.10 and above the 200-day moving average of $37.28.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to buy shares of PowerShares DB Precious Metals Fund on March 02, 2010 at $38.50. Since the call, the stock has risen 10.8%.

Keywords: powershares db precious metals fund pivot points

Ticker(s): DBP

Contact Chip Brian



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