patrick186
Short

Corn Preparing to Turn?

CBOT:ZC1!   Corn Futures
Corn has been decelerating for quite a few months now and is currently rejecting key resistance (monthly 200ema/200ma + monthly fibs) with a high-test.

Price action seems to be hinting at a turn from here in the near future down to $302.00, the September '09 low that sent us into an enormous rally to form the '12 highest high. I'm watching for a rejection of this 09' level over the next year or two that should align with the bottom in wheat . I expect a HUGE rally following that bottom to retest $746.00

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Thanks!!
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