The weekly quiz ask what would you do in the chart below.

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Thank you for all the responses from around the world. Go to hear from those of you that have responed to these quiz’s for the past year.  Received many answers from people for the very first time, great to hear from you.  Around 15% of the responses figured out what it was. See below for what the ETF was and a game plan for the ETF.

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DBC broke above the 38% Fib resistance level, came back and tested the fib level and the bottom of the channel at (1). Would want to be an owner of this ETF, with a stop at fib and channel support.  Since this ETF is heavily weighted towards the Energy complex see below for an updated Crude Oil chart.

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Crude tested its 61% fib level, declined enough to test the breakout as support and is now testing Fib resistance again.  Should Crude succeed in breaking above this key level, it should move a good deal higher is short order!

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past