The Market is in a deep correction on the daily, with price above the 50 , which is below the 200 and 800 emas, with the long term emas pretty much right on top of each other and mostly flat, signaling . Price is topping out in the b-wave of a a-b-c sell-off. Expect price to trade back below 3.606 before putting in a bottom. There is a serious nature to the Corn market. Prices bottom in early Spring and then shoot up in May time frame. The chart expected price pattern reflects that with what that means in terms of the pattern.
The Market was on the verge of being in a Bull Market on the 4 hour, with price trading back below the 50 , which is above the 200 , which is heading towards trading above the 800 . Price is now technically back in an correction. Would expect price to bang around here, testing emas, before turning down steadily in the c-wave of this correction. Probably open down next weeks, trade up towards the back end of the coming week to finish out an M-Top formation, before resuming the greater down-trend.
This is my CORNUSD look ahead for my own trading purposes. trading involves risk. Feel free to comment, but trade off of this post at your own peril.