Agribusiness ETF Attempts to Firm within Wedge
The Agribusiness ETF (MOO) broke channel resistance with a surge above 55, but fell back rather sharply over the last four weeks. The five week trend is down as a falling wedge takes shape. Even though the ETF firmed the last five days, it remains short of a trend reversing breakout. Look for a move above last week's high and a CCI move above the zero line to get a breakout signal. Watch MON, IPI and POT for clues.
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