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Advanced TA SearchArchive
- 5/3/2024 -
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WisdomTree Continuous Commodity Index Fund (GCC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the WisdomTree Continuous Commodity Index Fund (GCC). During the week, the GCC dropped -0.54 points, or -2.78%, and closed at 18.87 on Friday, May 3, 2024. Weekly volume was -33% below average.
 Long-term trend: [See GCC long-term trend chart]
A long-term downtrend had started on March 8, 2022 at 28.60 and reached 16.31 on January 2, 2024. GCC lost 12.29 points, or 42.97%, in 95 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (16.12) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See GCC medium-term trend chart]
A medium-term uptrend had started on January 2, 2024 at 16.31 and reached 19.66 on April 12, 2024. GCC gained -3.35 points, or -20.54%, in 14 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 18.16 and resistance is at 20.35. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See GCC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since February 16, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See GCC short-term trend chart]
A short-term downtrend had started on April 12, 2024 at 19.66 and reached 18.62 on May 2, 2024. GCC lost 1.04 points, or 5.29%, in 20 days. The chart has formed a Falling Channel chart pattern. The downtrend support line (19.05) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.
 Daily Technical Indicators: [See GCC daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 17, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See GCC candlestick chart pattern]
On Friday the chart has formed a Bullish Ladder Bottom Candlestick pattern. A Bullish Ladder Bottom pattern occurs in a downtrend, it may signal a trend reversal. The reliability of the Bullish Ladder Bottom pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Ladder Bottom Candlestick pattern during the last week.
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