mtb1980

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**
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