• Return to Headlines

PowerShares DB Precious Metals Fund (DBP) Reaches Initial Resistance Level, Watch for 0.58% Potential Upside Continuation

Written on Fri, 06/11/2010 - 11:21am
By Chip Brian

SmarTrend has detected shares of PowerShares DB Precious Metals Fund (NYSE:DBP) have bullishly opened above the pivot of $41.47 today and have reached the first resistance level of $41.63.
We are watching for a cross of the next upside pivot targets of $41.91 and $42.35. Also, the shares are currently trading above the 50-day moving average of $40.49 and above the 200-day moving average of $38.21.
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 8.2%.

Keywords: powershares db precious metals fund pivot points

Ticker(s): DBP

Contact Chip Brian



Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at http://www.mysmartrend.com/morning-call-newsletter-signup.