Shucking Corn; Long Entry Approaching

84 0 1
Corn Futures             are nearing a potential turning point in coming weeks as technicals and seasonals align. Back in early May, Corn             rejected major resistance around 520 and has since pulled back, completing a long cup, while our handle is forming with a retrace of 61.8% ($450) of the move from the lows around $400 early this year to the $520 highs. Although RSI is nearing oversold, waiting for some sort of divergence often pays off in choosing the opportune entry point. If you're not sure what this means, note how price continued to trend sideways/down from November 2013 to January 2014 while RSI steadily rose; that's "Bull Divergence." We should see some sort of Bull Divergence in corn             as well before a confirmed turn higher. Note: In a Cup & Handle formation, the Handle is much shorter in time than the Cup. Therefore, expect any divergence to show up in the next 5-6 weeks -- approximately half the distance in time it took the divergence to form in the Cup. Conveniently, the seasonal trend in Corn Futures             turns bullish in early July -- five weeks from today. I'll be watching this one closely for long entries around that time with an initial MM target around $630. Good luck out there!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out