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Trouble looming for commodities ETFs

Posted on 04 November 2013

An already rocky year for commodities exchange traded funds could get even more tumultuous as the charts for some commodities are weakening. The $6.1 billion PowerShares DB Commodity Index Tracking Fund is down 7.3% this year, which does not sound compared to the bear market losses for gold, silver and several soft commodities. However, DBC is facing a potentially ominous technical situation of its own.
“Many key commodities are breaking support, ranging from the CRB Index, Crude Oil, Commodities ETF (DBC) and Gasoline futures. This has my attention, due to this…the majority of the time Crude Oil & Gasoline have been soft, it may have been good for prices at the pump, yet it wasn’t good for stock prices,” said Chris Kimble of Kimble Charting Solutions………………………………………..Full Article: Source


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