Technical Trading: Fibonacci Explained With The Corn ETF (CORN)

A round of positive economic data lifted the markets nicely before Thanksgiving, allowing investors to take a breather after the hostile activity between North and South Korea on Tuesday spooked investors and sent them to safe havens such as gold and U.S. Treasury bonds [see Korea ETFs Plummet As North/South Tensions Flare]. An uncertain global outlook still overshadows equity markets, and it will be interesting to see if the holiday cheer carries into the shortened trading day on Friday as well as next week. Global tensions aside, the commodities market has been on fire lately with the PowerShares DB Commodity Index ETF (DBC) returning an impressive 14% in the last 13 weeks, even when factoring in its recent decline of roughly 7.6%. While broad commodity funds have surged in recent weeks, one particular grain has stolen the show, corn. The corn crop has been no stranger to the headlines as [...] Click here to read the original article on ETFdb.com. Related Stories: Technical Trading Ideas: GLD Technical Trading Ideas: SPY, VXX, GLD What Record Trading Day Means For The Corn ETF