Corn - Monthly continuous

CBOT:ZC1!   Corn Futures
Last years high of 7.35 met the median line of the long term pitch fork and turned lower. This year we have met the median line again with a high of 8.24. It appears that the median line has strong resistance. The momentum indicators ( RSI and Stochastics) are turning lower. The divergence in lower pivots this year on each indicator accompanied by higher highs in corn cautions of a potential change in trend.
**Cautiously Bullish Corn , this chart is the reason to be cautious**

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.