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Archive
- 11/8/2024 -
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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 a first positive week for the WisdomTree Continuous Commodity Index Fund (GCC). During the week, the GCC climbed 0.08 points, or 0.43%, and closed at 18.61 on Friday, November 8, 2024. Weekly volume was -69% 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 (15.83) 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 July 24, 2024 at 17.22 and reached 19.58 on October 7, 2024. GCC gained -2.36 points, or -13.70%, in 10 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (18.64) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See GCC weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 October 7, 2024 at 19.58 and reached 18.45 on November 6, 2024. GCC lost 1.13 points, or 5.77%, in 30 days. The price is now at the 14.16% retracement level.
Daily Technical Indicators: [See GCC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 daily MACD line is below its signal line since October 10, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (18.67) comes close to the price (18.61). It indicates that the trend is getting weaker. 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.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
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| Industry |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
18.45 |
| Low Date |
11/06/2024 |
| High |
18.96 |
| High Date |
11/07/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
19.58 |
| High Date |
10/07/2024 |
| Low |
18.45 |
| Low Date |
11/06/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Test Support |
| Resistance |
20.18 |
| Support |
18.64 |
| Low |
17.22 |
| Low Date |
07/24/2024 |
| High |
19.58 |
| High Date |
10/07/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
16.31 |
| Low Date |
01/02/2024 |
| High |
19.89 |
| High Date |
05/29/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
10.79 |
| Support |
15.83 |
| High |
28.60 |
| High Date |
03/08/2022 |
| Low |
16.31 |
| Low Date |
01/02/2024 |
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